Uber submitted documents to the Securities and Exchange Commission to become a public company on Thursday, in what is expected to be one of the largest technology IPOs in history. The company is seeking a valuation of between $ 90 billion and $ 100 billion, influenced by the rocky start to rival Lyft's initial public offering at the end of last month. As such, Uber will sell about $ 10 billion in shares in its IPO.
The company said it lost $ 10 billion since 2016, underscoring the extremely precarious nature of Uber's business model. The presentation revealed that Uber had 91 million users on its platforms by the end of 2018.
The company, which started out as a luxury car service in San Francisco in 2009, is now one of the most important transportation services. dominant. in the world, controlling more than 60 percent of the US market. UU and registering billions of trips around the world. In addition to a car service, Uber is in the process of becoming a one stop shop for many different modes of transportation, such as bicycles, scooters, carpooling and public transportation. In the future, Uber also plans to have autonomous vehicles and electric planes available on its platform.