Uber Files $10bln. IPO, Shaping for the First Trading Day in NYSE the Upcoming Month!

Uber Technologies Inc., the operator of global ride-hailing service, will kick off to seek around $10 billion initial public offering (IPO) this month and will enter the market in May. The coming of Uber is expected to be the biggest IPO this year, ranking among the 10 largest IPOs of all time.

Earlier, Uber had revealed part of its financial statement, and investors are now looking forward to see the full version which will be released tomorrow (Thursday) to compare with its competitor, Lyft Inc. that had been listed in Nasdaq in the previous month.

In February, Uber announced that the company generated $50 billion in gross bookings last year, up about 45% from 2017. However, the figures in 2018 had shown Uber showing growth as the company only booked $3 billion in the last quarter of 2018, increased 2% from the previous quarter from a total of $11.4 billion in revenue.

 

Dan Ives, an analyst from Wedbush Securities said that Uber will be the ride-sharing metrics versus Lyft while thinking a majority of investors see Lyft as the little brother to Uber.