Tech and Science News
Uber files for IPO, lifting curtain on finances
NEW YORK (Reuters) - Uber Technologies Inc on Thursday filed publicly with the U.S. Securities and Exchange Commission for its initial public offering (IPO), taking it a step closer to one of the largest technology stock listings of all time.
The Uber filing gives the first comprehensive financial picture of the ride-hailing and transportation services company. Started in 2009 after its founders struggled to get a cab on a snowy night, Uber has changed the way millions of people travel and commute but continues to lose money.
The filing revealed Uber had 91 million users on its platforms at the end of 2018.
Reuters reported this week that Uber plans to sell around $10 billion worth of stock at a valuation of between $90 billion and $100 billion. Investment bankers had previously told Uber it could be worth as much as $120 billion.
Reporting by Joshua Franklin in New York; Editing by Meredith Mazzilli
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