Proactive Investors - Run By Investors For Investors

Uber files for IPO as it kicks off race to float with rival Lyft

According to a report from The Wall Street Journal, the company filed the papers last week, with Uber potentially listing on Wall Street “as soon as the first quarter”
Uber sign
Uber could potentially reach a market cap valuation of US$120bn

Ride-hailing app Uber has reportedly filed a confidential draft document for its initial public offering (IPO), kick-starting a race to list with rival firm Lyft, which filed similar papers a day before.

According to a report from The Wall Street Journal, the company filed the papers last week, with Uber potentially listing on Wall Street “as soon as the first quarter”.

READ: Uber reportedly in talks to acquire electric scooter startups Bird and Lime

The two floats could raise billions for both firms, with a Reuters report in October saying that valuations at various US banks had pegged Uber with a potential market cap of around US$120bn.

In a bid to perhaps increase its potential value ahead of the float, a report from the FT last week said Uber was in talks to possibly acquire electric scooter startups Bird and Line, two ‘unicorn’ start-ups valued at over US$1bn, in multi-billion dollar deals to alleviate constraints on its scooter supply following the launch of its own scooter sharing service Jump in October.

View full UBER profile View Profile

Uber Technologies Inc Timeline

Article
April 12 2019

Related Articles

scientist in laboratory
March 07 2019
In a January update, Instem said trading had been in-line with expectations, helped by a 500% rise in orders for its SEND platform
Internet address bar
Fri
In a February trading update, the firm said it had delivered a “strong” performance in 2018 with revenues for the year expected to be around £42.5mln compared to £24.3mln the year before
Big Data
May 20 2019
The company provides data management and analytics services through RAPid, a platform that automatically extracts, aggregates, improves and organises data and documents
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use