Uber finally unveils its highly anticipated IPO filing

Is The Lyft IPO A 'Panic Moment' For Venture Capitalists

Uber's projected valuation would be higher than its most recent private valuation of $76 billion, but less than its rumored $120 billion target-likely a recalculation due to Lyft's slow entrance to the public market.

Uber officially filed for an initial public offering on Thursday.

The offering is expected to be the largest U.S. IPO this year and among the 10 largest of all time on U.S. exchanges. That profit was driven primarily by the sales of assets in Southeast Asia and Russian Federation, as well as an increase in the estimated value of its stock in China's largest ride-hailing company, Didi Chuxing.

The registration will provide investors with their most complete look yet at Uber's financial and operational numbers and strong points of comparison to rival Lyft's IPO registration in March.

Since its launch in 2009, it has aimed for global dominance of the ride-hailing industry through a cash-burning strategy of investor-subsidised fares and expanded its business in recent years to include food delivery, self-driving vehicles and alternatives to auto transport such as bikes and scooters.

"They're showing that they're capable of controlling their costs, which has been a concern of ride sharing companies in general", said SharesPost analyst Alejandro Ortiz. However, it also lost $1.8 billion in 2018, as measured by EBITDA, a profitability metric. Only $165 million in net revenue came from Uber Eats. That compares with the $2.3 billion raised when Lyft went public late last month. 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 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.

Uber filed with an initial offering amount of $1 billion, typically a placeholder amount used to calculate fees that will change. 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.

Alphabet, the parent company of Google, owns 5% of Uber, even as it competes with Uber on self-driving technology.

Uber's revenue totaled $11.3 billion in 2018, a 42% increase from $7.9 billion in 2017, and a giant leap from $495 million in 2014.

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