Uber updated its S-1 filing on Friday ahead of its IPO and largely eliminated references to competing with public transportation.
The move follows criticism from public transit experts detailed in a CNN Business article on the broader impacts of the strategy.When Uber initially released the regulatory filing on April 11, the document identified public transportation as competition to its business and said Uber's growth will depend in part on how it goes up against it. The language was a shift from how Uber had talked publicly for years about being a complement to public transit.
Read MoreUber declined to comment.Rather than describing itself as providing"an alternative to personal vehicle ownership and usage of public transportation," the document now describes Uber as offering"an alternative to personal vehicle ownership and usage of other modes of transportation."Uber wants to compete with public transit.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Uber to kick off investor roadshow with IPO terms on FridayRide-hailing company Uber Technologies Inc will unveil terms for its initial pub...
Read more »
Uber to kick off investor road show with IPO terms on FridayRide-hailing company Uber Technologies Inc will unveil terms for its initial pub...
Read more »
PayPal is investing $500 million into Uber as part of its $90 billion IPOUber said PayPal was buying $500 million in stock at IPO price.
Read more »
Uber is reportedly setting a price range of $44 to $50 for its upcoming IPOUber expected to set its IPO price range of $44 to $50, according to Bloomberg.
Read more »
Uber Chooses Citadel Securities to Handle Its IPOUber has chosen electronic-trading giant Citadel Securities to manage its hotly anticipated initial public offering on the New York Stock Exchange.
Read more »
Eye-Catching Hidden Message For Uber IPO In Self-Driving Tech Investor DealUber is on-the-road pitching its IPO and the recent $1 billion investment by SoftBank, Toyota and Denso is a good sign, including having a hidden message that provides a type of insurance policy needed vitally at this juncture of their IPO preparations.
Read more »
Uber sets terms for IPO, posts $1 billion first-quarter lossRide-hailing company Uber Technologies Inc is aiming for a valuation of up to $9...
Read more »
Uber sets terms for IPO, posts $1B first quarter lossUber Technologies Inc. will sell 180 million shares in its public offering, with a further 27 million sold by existing investors.
Read more »
US economic update; Amazon delivers; Uber IPO detailsToday's top business headlines with CNN's davebriggstv before the opening bell on Wall Street:
Read more »