Uber Files S-1 for NYSE Debut in Potential $120 Billion IPO
Uber releases its official IPO prospectus to list on the New York Stock Exchange under the ticker "UBER." The ride-hailing giant reports $11.27 billion in 2018 revenue and prepares for a May public debut following Lyft's recent market entry.
Uber releases its official IPO prospectus to list on the New York Stock Exchange under the ticker symbol "UBER." This highly anticipated filing arrives just two weeks after rival Lyft debuts on the public markets, marking the culmination of a tightly contested race between the two ride-hailing giants. Uber expects to share its share price range later this month and officially go public in May.
The company reports $11.27 billion in revenue for 2018, a significant increase from $7.93 billion the prior year. While Uber posts a net income of $997 million, it operates with an adjusted EBITDA loss of $1.85 billion. The platform also sees impressive growth in user engagement, reaching 91 million monthly active platform consumers and completing 1.49 billion trips in the fourth quarter of 2018.
The S-1 filing reveals SoftBank's Vision Fund as the largest shareholder with a 16.3% stake, followed by Benchmark Capital Partners at 11%. Ousted co-founder and former CEO Travis Kalanick remains the third-largest stakeholder, retaining an 8.6% ownership stake in the company. Analysts anticipate Uber's public offering to be one of the largest of the year, with previous reports suggesting a target valuation of up to $120 billion.