Uber planning to launch IPO in April

  • Uber planning to launch IPO in April

Uber planning to launch IPO in April

As for SoftBank's investment in Uber specifically, the company is expected to nearly double its investment when Uber goes public in the coming months.

Uber and Lyft, ride-sharing companies which represent direct competitors in the industry of getting a quick and cheap ride anywhere in the world where Lyft and Uber applications are supported, have submitted their IPO filings to the Securities and Exchange Commission at the end of 2018 around the same time. Uber declined to comment.

We've reported that Uber could be valued as high as $120 billion based on the investments its received thus far.

Softbank is already the largest investor in Uber, following a $US1.25 billion investment in January 2018 that gave it control of about 15% of the ride-hailing company.

"There will be competition for investor capital in the space between the two companies with them going out so close together".

Uber's revenue previous year was $US11.3 billion, while its gross bookings from rides were $US50 billion. But the company lost $3.3 billion, excluding gains from the sale of its overseas business units in Russian Federation and Southeast Asia. The company lost $US911 million.

Dara Khosrowshahi, chief executive officer of Uber, has previously said a culture change is a work in progress.

Since Uber still has weeks of preparation before releasing third IPO, Lyft has a great shot at issuing Lyft IPO before Uber gets a chance to do so, which will help the company avoid being overshadowed by Uber that undoubtedly has more operational force in oppose to Lyft. It operates in more than 70 countries and includes ride-hailing, bike and scooter rentals, freight hauling, food delivery and a self-driving auto division.

Uber is reportedly in talks with a group of investors led by SoftBank and Toyota to invest $1bn or more into the ride-hailing firm's self-driving vehicle unit. Taking on large investors that will influence a key business is an unusual move for a company so close to an IPO.

Those have included sexual harassment allegations, a massive data breach that was concealed from regulators, use of illicit software to evade authorities and allegations of bribery overseas.