- Ride-hailing company Uber Technologies Inc is planning to kick off its initial public offering in April, putting it close on the heels of smaller rival Lyft Inc, people familiar with the matter said on Thursday.
But the close proximity of the two IPOs could test the public market's appetite for ride-sharing investments. Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts have pegged its value closer to $100 billion based on selected financial figures it has disclosed.
However, in going out so close together, the companies risk testing the limits of investors' interest in ride-sharing. Uber's revenue last year was $11.3 billion, while its gross bookings from rides were $50 billion. But the company lost $3.3 billion, excluding gains from the sale of its overseas business units in Russia and Southeast Asia. [nL1N20925L]
Uber's business operates in more than 70 countries and includes not only ride-hailing but also bike- and scooter-rentals, freight hauling, food delivery and an expensive self-driving car division.
Source: Financial Digest (financialdigest.net)
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