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Uber says it "may not achieve profitability" ahead of $100bn IPO

Uber says it

Uber released its initial public offering Thursday ahead of a public listing that experts say could set records.

Uber has filed documents in the U.S. to take the ride-hailing giant public, the most anticipated in a year of high-profile technology stock exchange listings.

Buzz over Uber planning to go public comes amid protests across the globe sparked by the company.

The IPO has been a long time coming, and the company's filing with the SEC is expected to be heavily scrutinized in the days to come.

- Alphabet, Google's parent company, owns 5.2%. Those deals contributed to nearly $5 billion in what Uber called "other income".

Ridesharing companies Uber and Lyft have taken insurance matters into their own hands, largely managing their own risk.

March Madness: 10 best moments from the 2019 NCAA Tournament
They were unranked to start the season, then won the Big Ten Tournament title, sweeping rival Michigan State in two meetings. With just 10 seconds left on the clock, Virginia looked like they were in trouble, as they trailed Auburn by four points.

Uber said its growth strategy is based on increasing ride-sharing penetration in existing markets, pursuing targeted acquisitions and investments, and increasing investments in advanced technologies, among other things.

The world's largest taxi-hailing company revealed that it made a $3 billion operating loss previous year as it published the prospectus for its initial public offering (IPO). Uber's operating loss, for example, amounted to 27 percent of revenue in 2018, while Lyft's operating loss was 45 percent of revenue. Lyft, Uber's biggest rival, went public on March 29. Lyft increased the number of shares that were sold and priced them at $72 per share - the top of an elevated range - then watched as they jumped 21 percent at the opening bell. The company was last valued at $76 billion.

Paying drivers is a huge expense, and Uber's fierce competition with Lyft for customers has led both companies to offer rides below cost. Uber said in its IPO document that people who take rides from the company and also use its restaurant delivery business did more trips than people who used just one of those services.

Here are some of the key numbers in the 285-page document.

Uber's filing reveals that Uber had an average of 91 million monthly active users on its platform at the end of 2018. Although, Uber had yet to post an operational profit, investors, traders and fund managers had been expecting its IPO to be the biggest, widely beating Alibaba Group Holding Ltd.'s public appearance valuation in 2014, the largest so far. Khosrowshahi joined Uber in 2017 to replace company co-founder Travis Kalanick who was ousted as CEO.

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