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Uber files IPO prospectus; posts revenue of $11.27 billion

April 12, 2019

Human cloud, ride-sharing firm Uber Technologies Inc. filed its IPO prospectus on Thursday with the US Securities and Exchange Commission. Uber applied to list its common stock on the New York Stock Exchange under the symbol “UBER.”

In the filing, Uber reported 2018 revenue of $11.27 billion and net income of $997 million.

Uber’s filing follows the debut last month of its competitor Lyft on the Nasdaq Global Select Market. Staffing Industry Analysts ranks Uber as the largest B2C human cloud platform, followed by Beijing-based Didi Chuxing and Lyft.

Uber’s business includes other services; for example, Uber Eats, Uber Freight, and dockless e-bike and e-scooter rentals. For ride-sharing specifically, revenue increased 33% year over year to $9.2 billion in 2018.

Media reports this week said the San Francisco-based company seeks to sell about $10 billion worth of stock, valuing the stock between $90 billion and $100 billion.

The filing also called out cities such as Seattle, San Francisco and New York where officials have passed laws to expand labor benefits to drivers and rein in ride-sharing companies, Geekwire reported.

“If our operations in large metropolitan areas or ability to provide trips to and from airports are negatively affected, our financial results and future prospects would be adversely impacted,” Uber cautioned.

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