Uber unveils IPO with warning it may never make a profit
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit

Live Mint  

Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing. The S-1 filing underscores Uber's rapid growth in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract and retain riders. Although its user base includes customers of other services and ride-sharing, the number is nearly five times the 18.6 million announced by rival Lyft Inc. Uber in 2018 had $11.3 billion revenue, up around 42 percent over 2017, but below the 106 percent growth the prior year. Although Uber is no longer targeting a $120 billion valuation in the IPO, some stock bonuses to Chief Executive Dara Khosrowshahi and other company executives are only triggered when that valuation is reached.

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History of this topic

Uber earnings: company lost more than $1 billion in the third quarter
5 years, 2 months ago

Uber earnings: company lost more than $1 billion in the third quarter

CNN  

New York CNN Business — Uber is still reporting steep losses but its revenue growth is showing some promise. On Monday, the ride-hailing company <a href="https://investor.uber.com/news-events/news/press-release-details/2019/Uber <a href="> -Announces-Results-for-Third-Quarter-2019/default.aspx” target=”_blank”>reported it lost $1.16 billion during the third quarter including $401 million in stock-based compensation expenses related to its public offering in May. On a conference call with analysts to discuss …

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO
5 years, 6 months ago

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO

CNN  

Hong Kong CNN Business — Uber will take at least “a few years” to become profitable, according to one of the ride hailing firm’s top executives. The industry right now “is very competitive,” Uber’s chief technology officer Thuan Pham said at a tech conference in Hong Kong on Tuesday. “We have local competitors everywhere trying to aggressively expand to grow …

Uber posts $1bn loss, weeks after stock market float
5 years, 7 months ago

Uber posts $1bn loss, weeks after stock market float

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Uber revealed a $1bn loss …

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides
5 years, 7 months ago

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides

LA Times  

Uber’s first-quarter earnings report released Thursday — its first since the ride-hailing company went public on May 10 — disclosed more than the financial condition of the company. — Uber CFO Nelson Chai During their conference call with investment analysts following the company’s earnings release Thursday, Uber’s leadership didn’t say explicitly that fares would be rising. “Uber’s growth to date …

Uber IPO may have flopped but some unicorns are alive and well
5 years, 7 months ago

Uber IPO may have flopped but some unicorns are alive and well

CNN  

New York CNN Business — 2019 hasn’t been a magical year for unicorns. But the recent weakness isn’t necessarily a bad sign for Slack — or Airbnb, WeWork or other high profile private unicorn companies that are expected to be considering IPOs later this year or in 2020. It’s no surprise to see lesser-known software companies thrive as public companies, …

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype
5 years, 7 months ago

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype

CNN  

New York CNN Business — Uber and Lyft were two of the most highly anticipated IPOs in recent memory. The high-profile flops demonstrate the need for money-losing companies to do a much better job explaining how they’ll eventually make money, according to Carter Mack, whose investment bank helped bring Uber and Lyft public. The disappointing debuts of Uber and Lyft, …

Uber shares add to losses as CEO expects further pressure
5 years, 7 months ago

Uber shares add to losses as CEO expects further pressure

Live Mint  

Uber Technologies Inc's shares fell 12% on Monday, more than doubling their losses since the ride-hailing giant's poorly received market debut, and its chief executive officer said he expected the stock to remain under pressure in the coming months. Uber lowered its valuation expectations twice in the past two months to address investor concerns over its mounting losses, and finally …

Uber CEO expects further pressure as falling shares more than double losses; says stock did not trade as well as hoped post-IPO
5 years, 7 months ago

Uber CEO expects further pressure as falling shares more than double losses; says stock did not trade as well as hoped post-IPO

Firstpost  

Uber’s market capitalization has fallen to about $61 billion since its IPO on Thursday, still larger than Wall Street heavyweights including General Motors and FedEx Uber Technologies Inc’s shares fell 12 percent on Monday, more than doubling their losses since the ride-hailing giant’s poorly received market debut, and its chief executive officer said he expected the stock to remain under …

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week
5 years, 7 months ago

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week

Wired  

Finally, after much ink spilled and many hours prognosticating, it happened: Uber started trading on the stock market. One thing you don’t want to hear from inside a self-driving race car as it preps to make a hairpin turn: “This one’s going to be a little fast.” General Motors’ autonomous vehicle unit, Cruise, raises another $1.15 billion. A global strike …

Uber’s IPO joins ranks of Wall Street flops
5 years, 7 months ago

Uber’s IPO joins ranks of Wall Street flops

Live Mint  

New York: It was to usher in nothing less than a new era for Wall Street. Done in by a broad stock market selloff and a weak earnings report posted by its primary rival, Uber plunged immediately at the opening of trading, falling as much as 8.8% from its IPO price of $45 per share, a level that was already …

Uber's market debut sours most anticipated IPO since Facebook; only about a fifth of IPOs have ended first day of trading in red
5 years, 7 months ago

Uber's market debut sours most anticipated IPO since Facebook; only about a fifth of IPOs have ended first day of trading in red

Firstpost  

Uber’s IPO was a watershed moment for the decade-old company, which was started after its founders struggled to find a cab on a snowy night. Uber Technologies Inc’s conservative initial public offering could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of the most anticipated listing since …

Uber’s hyped-up IPO hits a few potholes on its first day
5 years, 7 months ago

Uber’s hyped-up IPO hits a few potholes on its first day

Associated Press  

NEW YORK — After much hype leading up to the largest initial public offering in five years, Uber hit a few potholes on its first day of trading, closing down 8% and reflecting lingering doubts about its future prospects for profitability. “It was a tough week to go public, but we got it done.” Uber’s IPO price was lower than …

A Bet on Uber Is a Bet on Self-Driving
5 years, 7 months ago

A Bet on Uber Is a Bet on Self-Driving

Wired  

On Friday morning, Uber executives rang the opening bell of the New York Stock Exchange as their 10-year-old, $82 billion company went public. But the most important activity Friday for Uber’s future may happen 370 miles away, in Pittsburgh, headquarters of the company’s Advanced Technologies Group. If it works, that self-driving technology might finally lead the ride-hailing company to the …

Uber prices IPO conservatively at $82.4 bn, hopes it will spare ride-hailing firm trading woes of rival Lyft
5 years, 7 months ago

Uber prices IPO conservatively at $82.4 bn, hopes it will spare ride-hailing firm trading woes of rival Lyft

Firstpost  

The IPO still represents a watershed moment for Uber, which has grown into the world’s largest ride-hailing company since its start 10 years ago. However, the IPO still represents a watershed moment for Uber, which has grown into the world’s largest ride-hailing company since its start 10 years ago. Uber’s valuation in the IPO is almost a third less than …

How much is an idea worth? In Uber’s case, $3.7 billion
5 years, 7 months ago

How much is an idea worth? In Uber’s case, $3.7 billion

Hindustan Times  

How much is a great idea worth? “He’s an incredible idea generator,” says Tim Ferriss, a friend and self-help author who invested in Uber after Camp pitched him the idea at a bar in 2008. Kalanick helped recruit Ryan Graves as Uber’s first CEO with a tweet promising “BIG equity, big peeps involved.” Graves spent his first six months getting …

Uber’s crazy ride: From cool app that saves time to biggest IPO in years
5 years, 7 months ago

Uber’s crazy ride: From cool app that saves time to biggest IPO in years

Live Mint  

How much is a great idea worth? “He’s an incredible idea generator,” says Tim Ferriss, a friend and self-help author who invested in Uber after Camp pitched him the idea at a bar in 2008. Kalanick helped recruit Ryan Graves as Uber’s first CEO with a tweet promising “BIG equity, big peeps involved.” Graves spent his first six months getting …

Uber shifts into lower gear, prices IPO at $45
5 years, 7 months ago

Uber shifts into lower gear, prices IPO at $45

Associated Press  

SAN FRANCISCO — Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years. The price is at the lower end of its targeted range of $44 to $50 per share, a decision that may have been driven by the escalating doubts about the ability of ride-hailing services to …

Uber sets IPO pricing
5 years, 8 months ago

Uber sets IPO pricing

CNN  

CNN — The most hyped IPO of the year turned out to be smaller than some expected. At the top end of that proposed price range, Uber would have been valued at $91 billion on a fully diluted basis, an impressive sum but well below the $120 billion valuation that bankers had once reportedly suggested to the company. The conservative …

Ride-hailing drivers expose financial unrest before Uber IPO
5 years, 8 months ago

Ride-hailing drivers expose financial unrest before Uber IPO

Associated Press  

NEW YORK — The executives at Uber are working hard to design a future where the company earns billions of dollars by allowing riders to summon fully automated robotaxis. “The drivers are the one who helped Uber to be $100 billion, nobody else, and the drivers are the ones who are suffering,” said Inder Parmar, 54, an Uber driver who …

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up
5 years, 8 months ago

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up

Firstpost  

Uber is set to price its $10 billion IPO on 9 May, seeking a valuation of up to $90 billion New York: Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch …

Uber takes investor roadshow to New York as demand builds up before its IPO
5 years, 8 months ago

Uber takes investor roadshow to New York as demand builds up before its IPO

Firstpost  

Uber’s IPO is being led by Morgan Stanley, Goldman Sachs Group Inc and Bank of America Corp. Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch presentation in the Mandarin Oriental …

Uber pitches expansions while investors question losses
5 years, 8 months ago

Uber pitches expansions while investors question losses

Live Mint  

Uber Technologies Inc. is betting expansion into new markets and new business areas will attract investors to its initial public offering. During the Q&A session, Uber management shared its plan to expand in logistics and other transportation businesses, including scooters, autonomous driving and mass transit, one of the people said. Unlike its competitors, Uber’s existing platform allows it to benefit …

Uber looks to raise up to $9B in initial public offering
5 years, 8 months ago

Uber looks to raise up to $9B in initial public offering

Associated Press  

NEW YORK — Ride-hailing giant Uber is aiming to raise $9 billion in its mammoth initial public stock offering that, while smaller than initially expected, still dwarfs most stock market debuts. The San Francisco-based company expects to be valued at $80.5 billion to $91.5 billion, falling well below prior estimates that rose as high as $120 billion, in a sign …

Uber aims for an IPO valuation of as much as $90 billion
5 years, 8 months ago

Uber aims for an IPO valuation of as much as $90 billion

Live Mint  

Uber Technologies Inc. is aiming for a valuation of about $80 billion to $90 billion in its initial public offering, just above its last private funding round, according to people familiar with the matter. At the lower end of the range the price would value Uber just above its last private funding round, in which Toyota Motor Corp. invested at …

Opinion | Uber’s IPO filing affirms a dangerous business model
5 years, 8 months ago

Opinion | Uber’s IPO filing affirms a dangerous business model

Live Mint  

Last week, in Delhi, I took an Uber cab to the airport from my home, a distance of about 14 kilometres. In Uber Eats, for instance, which has declined for two successive quarters, it is forced to accept a lower rate of revenue to gross bookings, to bring on board what it calls “large-volume restaurants at a lower service fee …

Uber’s valuation appraisal more complex than Lyft’s, says professor
5 years, 8 months ago

Uber’s valuation appraisal more complex than Lyft’s, says professor

Live Mint  

Uber Technologies Inc. isn’t exactly Lyft Inc., said Aswath Damodaran, a finance professor at New York University’s Stern School of Business, but the market will price them relative to each other. The two ride-sharing companies are making their debuts in the equity capital markets, with Lyft going public at the end of last month, and Uber filing its prospectus last …

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future

Firstpost  

Although Uber’s user base includes customers of other services as well as ride-sharing, Uber’s 91 million is nearly five times the 18.6 million announced by rival Lyft Inc. New York: Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its initial public offering filing. …

Uber seeks $10 billion in year’s biggest IPO
5 years, 8 months ago

Uber seeks $10 billion in year’s biggest IPO

Live Mint  

San Francisco: Investors could get their first look at hundreds of pages of detailed information about Uber Technologies Inc as soon as Thursday, as the ride-hailing giant gears up to publicly file for an initial public offering. Prospective investors are hungry for the minutiae, and they’re now armed with ride-hailing rival Lyft Inc’s March listing as a reference point for …

Uber's self-driving car unit is in the spotlight ahead of IPO later this year
5 years, 9 months ago

Uber's self-driving car unit is in the spotlight ahead of IPO later this year

Firstpost  

Uber, last valued at $76 bn in the private market, is seeking a valuation as high as $120 bn in its IPO. “That being said, again because Uber understands that self-driving cars at scale is not something that’s going to happen tomorrow, they understand the need for the science.” Urtasun declined to offer any guidance on what mix of human-driven …

Lyft valued at $24.3 billion in first ride-hailing IPO
5 years, 9 months ago

Lyft valued at $24.3 billion in first ride-hailing IPO

Live Mint  

Lyft Inc was valued at $24.3 billion in the first initial public offering of a ride-hailing startup on Thursday, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported …

Lyft aims to raise up to $2.1 billion in 2019’s biggest US IPO
5 years, 9 months ago

Lyft aims to raise up to $2.1 billion in 2019’s biggest US IPO

Live Mint  

San Francisco: Lyft Inc. is seeking to raise as much as $2.1 billion in its initial public offering, valuing the firm at almost $20 billion. At the targeted range, the San Francisco-based company’s offering will be the biggest from a tech upstart since Snap Inc. went public two years ago, and the largest in the US so far this year …

Uber plans to kick off IPO in April, right after Lyft’s
5 years, 9 months ago

Uber plans to kick off IPO in April, right after Lyft’s

Live Mint  

San Francisco: Ride-hailing company Uber Technologies Inc. is planning to kick off its initial public offering in April, putting it close on the heels of smaller rival Lyft Inc., people familiar with the matter said on Thursday. Uber's business is much larger and more diverse than Lyft's, and the firm has moved relatively swiftly to go public given both firms …

Lyft IPO is a pure bet on the US ridesharing market
5 years, 10 months ago

Lyft IPO is a pure bet on the US ridesharing market

CNN  

New York CNN Business — 1. Looking under Lyft’s hood: Lyft appears to have beaten Uber in the race to become the first US ridesharing company to go public. Lyft’s IPO filing will show how, unlike Uber, it’s squarely focused on the booming American ridesharing market. “Lyft is much more a bet on a pure-play US ride-sharing market,” said Asad …

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