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Uber Technologies Inc. has filed documents for the initial public offering, which is a step closer to what could become one of the largest and most anticipated registrations in its early days, Reuters said.
Uber has quietly submitted the documents of the initial public offering
The company filed documents with its rivals the same day. The simultaneous deposits continue the protracted struggle between Uber and Lyft, which offers similar services and applies the same tariffs. Uber is eager to beat Lyft on Wall Street, according to sources close to the subject.
The documents filed mark the scene for one of the largest lists of technologies. Uber was valued at $ 76 billion in the last private tour de table and could reach $ 120 million in public offer.
Next year, the company will be one of the largest companies in Silicon Valley, including Airbnb Inc and Slack Messaging. However, corporate plans may be affected by market volatility, which is becoming increasingly felt.
The listing will also be a test of tolerance of stock market investors in the face of the legal and internal controversies that Uber has faced for most of the year, but also to the assessment of the corporate transformation imposed by the general director, Dara Khosrowshahi.
Khosrowshahi took Uber 's head a little over a year ago and repeatedly stated that he would appear on the Uber list in 2019. In August, he hired the company's first CFO for more than three years.
Together, Uber and Lyft will also test the investors' appetite for carpooling, which has proven to be extremely popular and unprofitable.
Uber lost $ 1.07 billion in the third quarter and is facing slower growth. Its revenues reached $ 2.95 billion in the third quarter, an increase of 5% over the previous quarter. Bookings increased by only six percent.
Uber has generated approximately $ 18 billion in private investors since 2010. The company is present in more than 70 countries, while Lyft in the United States and Canada only enters a period of global expansion.
Uber has also added a number of other companies growing, but whose profits are not sustainable. These include freight transportation, food delivery and the rental of electric bicycles and scooters.
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