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Uber sets course for IPO, but prospectus shows slowing growth

Uber sets course for IPO, but prospectus shows slowing growth

The filing with the U.S. Securities and Exchange Commission showed Uber had 91 million average monthly active users on its platforms, including for ride-hailing and Uber Eats, at the end of past year.

In 2017, Uber's revenue stood at $7.9 billion, up ~106% YoY, and it rose to $11.3 billion in 2018, a rise of ~42%. Although its user base consists of customers of other services and ride-sharing, the number is nearly five times the 18.6 million announced by competitor Lyft Inc.

The company is expected to try to raise roughly $10 billion and seeks a market value of $90 billion to $100 billion, according to the Wall Street Journal.

In 2018, Uber set aside $1.1bn to meet penalties and settlements.

Uber, the ride-hailing service that has upended transportation around the world, took a major step towards the largest initial public offering (IPO) in years when it officially unveiled its finances in a prospectus on Thursday.

However, Uber losses declined from $4 billion in 2017 in 2018, suggesting it could be heading in the right direction.

After making the public filing, Uber will start a series of investor presentations, called a roadshow, which according to the Reuters will start the week of April 29. That will come before executives head out on a so-called road show created to drum up interest in the IPO among institutional investors who will be given the first opportunity to buy the stock before it begins trading on the New York Stock Exchange next month.

GrubHub dropped more than 6% Friday after Uber's S1 filing indicated the ride-sharing company was continuing its aggressive expansion into the food-delivery business through its subsidiary UberEats.

Sarri wants Chelsea to buy Higuain but admits striker ‘needs to improve’
CHELSEA look like a better team when Callum Hudson-Odoi is on the pitch rather than on the substitutes bench. Loftus-Cheek also scored in that game with a fine long-range effort.

"We believe that Drivers are independent contractors because, among other things, they can choose whether, when, and where to provide services on our platform, are free to provide services on our competitors' platforms, and provide a vehicle to perform services on our platform", the S-1 said.

Uber believes its Uber Eats app has so far only captured 1% of a almost $US800 billion market. Now it'll be up Dara Khosrowshahi, to Kalanick's successor, to convince investors who Uber has cleaned up its act and merits a market value higher than Ford Motor and General Motors combined.

Queries are appearing into the use of duplicitous software of Uber to fool authorities regulators.

Uber said in its filing its ridehailing position in the United States and Canada was "significantly impacted by adverse publicity events" and that its position in many markets has been threatened by discounts from other ride-hailing companies.

The blowback from the problems helped Lyft pick up ground in the USA - something Uber acknowledged in its filing - and led to the ouster of Uber co-founder Travis Kalanick as CEO in 2017.

A #DeleteUber campaign surged on social media in 2017 after a public relations crisis, which Uber said in its filing meant hundreds of thousands of consumers stopped using its platform within days.

In the end, Uber is widely expected to be the biggest technology IPO since Chinese e-commerce giant Alibaba Group went public in 2014.

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