Publicado: Lun, Abril 15, 2019
Financiera | Por Marilu Caballero

Uber IPO Might Be Greatest Public Providing In Years

Uber IPO Might Be Greatest Public Providing In Years

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

As ride-hailing major Uber filed its initial public offering (IPO) prospectus on Friday, India has been listed as its fifth largest market outside the United States in terms of total miles of rides covered (30 million miles).

Uber's revenue grew 42 percent previous year to $11.2 billion but it continued to lose money from its operations.

Uber highlighted Seattle's landmark law that allows drivers to unionize as an example of legislation that could force the company to "modify our business model in those jurisdictions as a result".

Disney unveiled more details about its upcoming streaming service. Uber regards the total market potential, or the amount that consumers spend on all home delivery, takeaway, and drive-through service globally, to be a staggering $US795 billion.

Lyft, Uber's direct competitor, went public last month, and since, its stock has dropped more than 20 per cent. The draft prospectus for the biggest IPO in the world since Alibaba's in 2014 has projected a major cash burn for Uber in trying to get a significant market share in India.

The ride-hailing service revealed that in 2018, gross bookings climbed to $49.8 billion, a 45 percent increase from the $34.4 billion generated a year earlier.

Uber had not revealed the recent user numbers before, and the figure shows the scale of the business.

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Wood, 28, played in seven games in the National Football League from 2013-15, carrying the ball five times for 12 yards. Seattle added him to their practice squad on November 11, 2014, but released him before he could play in a game.

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.

That history that is unprofitable could force its costs to be finally raised by Uber unless it can reduce its costs by shifting to driverless cars or expand to other markets and lines of business.

"Our continued success will come from stellar execution and the strength of the platform we have worked so hard to build", said CEO Dara Khosrowshahi in a letter in the filing.

The company is on its way to price its IPO and start trading on the New York Stock Exchange in early May.

Even though Lyft gained an advantage by going public weeks before Uber announced their public filing for IPO, many watchdogs of the market consider that Lyft is still Uber's "little brother". In addition, the company invests large sums in such enterprises as food delivery and scooters. Travis Kalanick, who was ousted as CEO in 2017 but still owns 8.3 percent of the company's pre-IPO shares valued at roughly $9 billion, will likely see his wealth multiply by billions of dollars. But in 2017, it has more than doubled compared to 2016.

Daniel Ives of Wedbush Securities noted that the ride-hailing firms will face competition from other autonomous driving firms including the former Google auto unit Waymo.

The parent firm of Google, alphabet, owns 5 percent of the company as it competes with Uber on self-driving technology.

Uber's home market rival Lyft (LYFT) had almost 18.6 million active riders in the fourth quarter, much lower than Uber's 91 million.

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