There’s a lot riding on India, reveals Uber’s IPO filing

Uber IPO 2019: Uber IPO Share Price and Date – Uber Looking at a 100 Billion Dollars Evaluation-Wed May 08

Uber's sensitivity to regulation, as it prepares to go public later this year, highlights the tension between mobility companies that rely on big cities to power their businesses and elected officials in progressive meccas seeking to maintain more control over the rapidly changing transportation landscape.

Ride-hailing market leader Uber Technologies Inc. on Thursday officially filed for an initial public offering (IPO) that might value the firm anywhere from $100 billion to $120 billion when it lists on the New York Stock Exchange under the ticker symbol "UBER".

In the filing, Uber reported 2018 revenue of $11.27 billion and net income of $997 million. Apart from Uber's India business, the filing with the US Securities & Exchange Commission (SEC) refers to local rivals including Ola, Swiggy and Zomato while citing the risk factors.

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Last year, a self-driving Uber vehicle ran over a pedestrian in Tempe, Arizona - the first time a person had been killed by autonomous vehicle.

J. Crew announced that it's exploring a potential IPO for its Madewell clothing brand.

With an estimation of 10 billion dollars for Uber IPO, Uber is said to be the biggest public offer in the market in 2019. Incidentally, the IPO filings show the United States department of justice is investigating potential improper payments to police by Uber in multiple markets including India.

The investment bankers handling Uber's IPO are expected to reveal a pricing range for Uber's shares later this month.

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"Our continued success will come from stellar execution and the strength of the platform we have worked so hard to build", said CEO Dara Khosrowshahi in a letter in the filing. 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.

While revenue growth in its ride-hailing business slowed, its food delivery service, Uber Eats, is soaring.

The per-share amounts will ascertain Uber's market worth. In addition, the company invests large sums in such enterprises as food delivery and scooters. Now it will be up to the successor, Khosrowshahi of Kalanick, to convince investors who Uber has cleaned up its act and values that a market value greater than Ford Motor and General Motors combined.

The blowback in the problems assisted Lyft pickup soil in the USA and contributed to the ouster of both Uber co-founder Travis Kalanick CEO in 2017. It launched its first self-driving test vehicle in 2016 and its self-driving auto division has more than 1,000 employees, and it has built more than 250 self-driving cars so far.

Daniel Ives of Wedbush Securities noted that the ride-hailing firms will face competition from other autonomous driving firms including the former Google auto unit Waymo.

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

Uber's home market rival Lyft (LYFT) had almost 18.6 million active riders in the fourth quarter, much lower than Uber's 91 million.

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