Uber Planning IPO In April

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Uber Planning IPO In April?

Uber, the ride-hailing app, is planning to float on the stock market in April. According to reports from the Reuters news agency, the company will register with US regulator the SEC. It is also planning a roadshow for investors in April.

This is the second company in the same industry to float stocks on the market since the beginning of 2020. Lyft started the process at the beginning of March and it is expected that it will complete the process by the end of the month.

Both companies had already announced their intentions in 2020.

Uber’s Valuation

Uber started in 2009 and was valued at $79 billion. It is hoping that it will be valued at $120 billion when it floats. However, the ride-hailing company has struggled to keep news positive about its brand. It has been a controversial entrant and has been blamed in more than sixty countries for disrupting the more traditional taxi industry.

Regulators in many countries are continuing to make operations for the company difficult. Private hire operators are also fighting back against the company.

There has also been some controversy over the way drivers are classified by the company. In the US and UK, the company has faced legal challenges after claiming its drivers are self-employed contractors instead of employees.

There have also been significant problems behind the scenes. Their chief executive, Travis Kalanick, was forced to resign in 2020 after a number of scandals within the organisation.

The company also had a data breach which affected 57 million riders and drivers. Some have suggested that the company paid the criminals to delete the information, but there is limited evidence that the data was destroyed.

In addition, Uber’s latest financial report shows they made a whopping $1.8 billion, even after tax benefits.

Uber’s Loss Is Lyft’s Gain

These have helped Lyft to raise its profile in the US and Canada, its only places of operation. The problem for the company is that its valuation is well below that of Uber, being only $15 billion. In addition, recent financial figures released have had stock market experts worried about their performance.

Some say that while revenue per ride is increasing, so are their costs per ride.

Uber reportedly plans IPO for early May

The ride-sharing company is rumoured to be planning its initial public offering (IPO) for early May, according to a report by Reuters.

According to Reuters sources, people close to the matter said that Uber will issue its required public disclosure and launch its investor roadshow in April.

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Uber plans to sell around $10 billion worth of stock in IPO

Reuters sources said on Tuesday, Uber has decided it will seek to sell around $10 billion (£7.7 billion) worth of stock in its initial public offering (IPO) and will make public the registration of the offering on Thursday.

Uber plans to kick off its investor roadshow during the week of 29April, according to sources.

Uber vs Lyft

Uber’s anticipated IPO is set to kick-off weeks after its rival ride-sharing company Lyft, which announced the official release of their IPO on 29 March.

Lyft debuted its initial public offering at $72 a share with a $24 billion valuation. The ridesharing app launched on Wall Street with the symbol, ‘LYFT.’

Many analysts say Lyft has gained an advantage over Uber, as the company’s IPO date was announced while Uber was still in preparations. Uber has declined to comment, despite sources claiming an April release.

Uber seeks higher than the estimated valuation

Lyft and Uber have often been neck-and-neck with their competitive offers. However, Uber’s business is much larger than Lyft’s business, and both firms filed confidential paperwork for an IPO in December, at the same time.

Uber has recently valued its company at $US76 billion ($108 billion) in the private market. It’s seeking a valuation as high as $US120 billion, however, some analysts estimated its value closer to $US100 billion based on financial figures.

Uber’s revenue in 2020 was $US11.3 billion, while its gross bookings from rides were $US50 billion.

While, Lyft’s 2020 revenue was $US2.2 billion, with $US8.1 billion in gross ride bookings.

Analysts have predicted that both companies could benefit from Lyft joining the public markets first. Uber could use market euphoria to its advantage, demanding a high valuation.

Dara Khosrowshahi, chief executive officer of Uber, has previously said a culture change is a work in progress.

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Uber plans to kick off IPO in April

15 March, 2020 10:36

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. Report informs citing the Reuters people familiar with the matter said on Thursday.

Next month, Uber will issue its required public disclosure, known as an S-1, and launch its investor roadshow, the people said. Those events will set in motion the Wall Street debut of one of Silicon Valley’s most closely watched companies.

Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion, although some analysts have pegged its value closer to $100 billion based on selected financial figures it has disclosed.

Company headquartered in San Francisco, California. Uber offers services including peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system. The company has operations in 785 metropolitan areas worldwide.

Uber получила рекордные убытки из-за IPO и высокой конкуренции

Компания Uber получила во втором квартале рекордный убыток – 5,2 млрд долларов. Согласно отчетности, за 2020-й финансовый год убытки сервиса выросли почти в шесть раз. Во втором квартале 2020 года убытки составляли лишь 878 млн долларов. За отчетный период выручка Uber увеличилась лишь на 14% — с 2,78 млрд долларов до 3,17 млрд долларов.

Рост убытков связан с большими расходами на IPO. Согласно отчетности, на это Uber потратила 3,9 млрд долларов. Еще около 300 млн долларов компания выплатила в связи с выходом на биржу своим водителям. Также одной из причин The Wall Street Journal называет высокий уровень конкуренции на мировых рынках, расходы на субсидирование тарифов и привлечение водителей.

Общие финансовые показатели компании показывают тенденцию к падению. В первом квартале года убытки Uber составили 1,01 млрд долларов, а выручка — почти 3,1 млрд долларов.

По данным компании, число бронирований поездок с помощью сервиса увеличилось на 31% по сравнению с аналогичным периодом прошлого года.

В 2020 году Uber стала публичной компанией. В ходе IPO было привлечено 8,1 млрд долларов, хотя планировалось, что выход на биржу принесет 10 млрд долларов. После IPO капитализация Uber составила около 76 млрд долларов. Несмотря на то, что IPO Uber стало одним из крупнейших на бирже за 2020 год, эксперты назвали его провальным.

Генеральный директор Uber Дара Хосровшахи считает, 2020 год станет пиковым для компании по убыткам, затем в 2020 и 2021 годах потери снизятся, пишет Forbes.

«У нас продолжают появляться новые рынки. У нас по-прежнему есть такие компании, как Uber Eats, которые демонстрируют удивительные темпы роста», — сказал Хосровшахи.

Руководство компании уволило 400 из 1200 сотрудников отдела маркетинга, чтобы оптимизировать подразделение на фоне плохих финансовых показателей, пишет Inc.

Cервис начинает развивать другие направления бизнеса. Выручка Uber Eats за квартал выросла на 72%. Сервис запустит к 2023 году воздушное такси Uber Air в Австралии, также такая услуга появится в двух американских городах.

В России Uber объединил свой бизнес с «Яндекс.Такси». Компании в 2020 году закрыли сделку по объединению бизнеса также в Азербайджане, Армении, Беларуси, Грузии и Казахстане. В объединенной компании «Яндекс» получил 59,3% акций, Uber – 36,9%.

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