Documents filed with the United States regulator the Securities and Exchange Commission show that it made a small profit previous year, but this was because of the sale of businesses in Asia.
Uber in 2018 had revenue of $11.3 billion, up around 42 percent over 2017, again below the 106 percent growth the prior year.
The company set a placeholder amount of $1 billion but did not specify the size of the IPO. That's nearly as much as the $78.2 billion drivers have earned since 2015 driving for Uber. That would make it the largest IPO since Alibaba Group went public in 2014 with a staring valuation of $169 billion.
We'll have to wait and see what happens once Uber is officially a publicly traded company.
Barr to release redacted Mueller report within a week
Joseph DiGenova is an American attorney who served as the United States Attorney for the District of Columbia from 1983 to 1988 . Barr said "the letter speaks for itself" and revealed that he gave Mueller an opportunity to review the letter, but he declined.
The company is seeking a valuation of between $90-$100bn, influenced by the stock performance of smaller rival Lyft Inc following its IPO last month, the sources said.
After making the public filing, Uber will begin a series of investor presentations, called a roadshow, which Reuters has reported will start the week of April 29. The San Francisco-based company applied to list on the New York Stock Exchange under the ticker UBER, according to its filing Thursday with the U.S. Securities and Exchange Commission.
One advantage Uber will likely seek to play up to investors is that it is the largest player in numerous markets in which it operates. Analysts consider building scale at a critical mass is crucial in order for Uber's business model to become profitable. "The primary issue is around the underlying metrics that Uber will discuss around take rates, ride sharing data, driver ecosystem, and a myriad of other metrics relative to Lyft which may put the company in a more negative light". A representative for Uber declined to comment.
After the close of trading on Wednesday, Lyft announced that it would release financial results for its first fiscal quarter ended March 31 after the market closes on May 7. Drivers in good standing who have completed 2,500, 5,000, 10,000, or 20,000 lifetime trips as an Uber driver will receive the corresponding cash reward.