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Scooters and e-bikes present a range of potential problems for Uber, the company said in the prospectus for its initial public offering (IPO), released Thursday.
Uber's "personal mobility" vehicles present challenges different from those posed by its transportation, delivery and logistics services, the company said. Risks include pilot incompetence, lack of protective gear, careless steering, poor maintenance, and poor third-party manufacturing. Uber said injuries to cyclists or scooters could be worse than those of pbadengers.
Read more: Uber filed to go public in what could be the biggest IPO in years
"Integrating bikes and electric scooters without a dock into our platform will result in increased costs and liability," said Uber.
The company also faces legal and political obstacles that limit where and how it can deploy scooters and bicycles. Cities like Austin and San Francisco limit the number of bikes and scooters that can not be offered by a company, and some cities prohibit them altogether. The company said that in some cities, like Fort Lauderdale, Florida, it had not been able to obtain the necessary permits for scooters and electric bikes.
"Our inability to develop our bikes and electric bikes without a platform could adversely affect our business, financial condition and results of operations," said Uber.
The IPO of Uber is one of the most anticipated in recent years. Lyft, one of the company's main competitors, was announced at a value of more than $ 24 billion on March 29.
Uber has not disclosed the price of its planned shares, although the strong demand for Lyft's offer suggests the possibility that Uber's public valuation exceeds that of previous campaigns. fundraising. The Wall Street Journal reported in 2018 that Uber's public valuation could reach $ 120 billion, well above its latest valuation, $ 72 billion.
Uber is expected to start meeting potential investors in April and register its shares in public markets in May, according to Bloomberg.
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