Uber IPO Might Be Greatest Public Providing In Years

In IPO filing, Uber calls out Seattle and warns ‘regulatory risks’ in big cities could impact bottom line

But the prospectus renewed questions about how sustainable Uber's business actually is.

"Greater competition in markets like India and the United States along with the onboarding of large-volume restaurants at a lower service fee has also resulted in the decline of Uber Eats' take rate to 10 per cent in 2018 from 12 per cent in 2017", the company said. "Our revenue is dependent on the pricing model we use to calculate consumer fares and driver earnings", said the company.

Investment bankers had earlier told Uber it could be worth about $120 billion.

Despite operating on six continents and having booked more than 10 billion trips, Uber still accounts for less than one percent of all miles driven globally.

The insightful document doesn't reveal Uber's planned share price or the date in which shares will be available to purchase. This will return before executives head out on a so-called street series created to drum up interest in the IPO among institutional investors that will be given the first opportunity to buy the inventory before it starts trading on the New York Stock Exchange. The company disclosed in its S-1 filing that it now has 30 million cars on its platform in India, of a total 850 million across the world.

In the end, Uber is widely expected to be the biggest technology IPO since Chinese e-commerce giant Alibaba Group went public in 2014.

There has been much excitement over the potential of unicorn businesses, those privately owned tech startup companies valued at more than $1 billion. Its title shortened from 2010, distancing itself from the taxicab business, which has been criticized the firm for operating under less regulation than the traditional cab market. Its food delivery business, which spans 500 cities doubled its revenue in 2018 to $757 million from $367 million in 2017. Uber thinks dockless e-bikes and scooters could drastically reduce passenger vehicle trips under three miles, but also acknowledges that it wields little control over the complex supply chain associated with bikes and scooters.

But Uber faces challenges that Lyft doesn't because of a series of damaging revelations that sullied its reputation among consumers.

Uber has been investing substantially in self-driving vehicles, which could be critical to reducing driver costs and achieving profitability.

Travis Kalanick, the CEO who stepped in 2017 under stress from the board, is one of Uber shareholders, owning almost 9 percent of the firm's stock.

From December 2016 to December 2017, Uber's user base grew from 45 million to 68 million, up ~51%, while it rose ~34% between December 2017 and December 2018. The company resumed testing self-driving automobiles.

Even reporting on these incidents can hurt Uber's brand, the company says, which is why Uber is compiling its own "transparency report" on sexual assault and harassment in an effort to get ahead of the story.

The decade-old company also warned that it may fail to develop and successfully commercialise autonomous vehicle technologies and expected that its competitors would develop such technologies before it. Alphabet also owns approximately 5% of Lyft's stock.

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