Mexican Media Brands
Uber Files for IPO
Ride-hailing service Uber Technologies Inc. filed initial paperwork on Thursday for an initial public offering next year, according to media reports.
#economics
Share
Ride-hailing service Uber Technologies Inc. filed initial paperwork on Thursday for an initial public offering next year, according to media reports.
The confidential filing came on the same day rival Lyft Inc. filed its own confidential S-1 filing statement with the U.S. Securities and Exchange Commission.
Neither filing indicates the timing, price or number of shares to be offered. But each company is scrambling to launch its IPO ahead of the other, figuring the first to do so will have the better chance of wooing investors. The rivals also face a cooling market because of worries about a possible recession.
Uber has an estimated IPO market valuation of $120 billion. That compared with about $76 billion for Lyft.
RELATED CONTENT
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
Study: How States Should Update Traffic Laws for Autonomous Cars
U.S. states should require that all automated cars have a licensed driver on board, suggests a study by the Governors Highway Safety Assn.
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
