11 Apr 19

Uber files IPO, just behind Lyft

Global ride-hailing company Uber has filed for its long-awaited IPO, just a few weeks after North American rival Lyft which went public in late March. 

Uber, which did not disclose a valuation it is seeking, will list on the New York Stock Exchange under the symbol "UBER." 

Although the company was previously reported to be seeking a valuation of US$120bn, startup portal Tech Crunch has more recently reported that the company is looking to sell about US$10bn worth of stock, thus giving it a value of US$90bn-$100bn. Uber intends to provide a price range for its shares by late April, and go public in May.

Despite an expected value of nearly US$100bn, the company is said to be losing some US$1.8bn/y.

Authored by: Daniel Bland