Uber, losing $ 1.8 billion a year, reveals I.P.O. filing
SAN FRANCISCO – Uber, the car service that has increased worldwide transport, took a big step towards the biggest original public offer this year when it officially revealed its finances in a prospectus Thursday.
The offering, which appreciates Uber's $ 100 billion, is expected to reverberate through global financial markets and strengthen its position as one of the most consistent technology companies in the past decade. The stock sales will be highest since the Alibaba Group in China began trading on the New York Stock Exchange in 2014, and will point Uber's value over four times that of United Airlines parents and double it for FedEx.
But the prospectus for Uber's offer of renewed questions about how sustainable the company's business really is. It said in the filing that it had lost $ 1.8 billion in 2018, with the exception of certain transactions, on sales of $ 11.3 billion. And the prospect also showed that Uber's revenue growth rocket path began to slow.
A potentially big concern for Uber is that it does not seem to generate profits in the near future. In the United States, the company burns in cash because it fights Lifting, lowers the prices for passengers and uses to recruit drivers. In other parts of the world, Uber also gives discounts to riders and incentives for drivers as competitors like Ola's market share battle. The company also invests heavily in businesses such as food delivery and scooters.
To reduce the surprise of the losses when it finally became public, Uber has published its quarterly results for two years, although, as a private enterprise, it was not obliged to do so. The prospect still invites fresh reviews, especially when Uber leaders are starting to meet investors on a so-called road show in the coming weeks.
Uber did not disclose the prospect the valuation it seeks from public investors; It was valued at $ 76 billion in the private market. Its public offering is led by Morgan Stanley and Goldman Sachs. The company's shares are set to start trading next month after the traffic clock closes.
