Lyft shares hit new low as Uber IPO chatter revs up
12 April, 2019, 03:41 | Author: Eric Barnett
Uber CEO Dara Khosrowshahi will seek to ease similar concerns during his company's IPO roadshow, which is reportedly scheduled for late April.
Uber plans to sell about $10 billion worth of its stock in a highly anticipated flotation, and is seeking a market valuation of around $90 billion.
The company set a placeholder amount of $1 billion but did not specify the size of the IPO.
Uber's projected valuation would be higher than its most recent private valuation of $76 billion, but less than its rumored $120 billion target-likely a recalculation due to Lyft's slow entrance to the public market. The San Francisco-based company applied to list on the New York Stock Exchange under the ticker UBER, according to its filing Thursday with the U.S. Securities and Exchange Commission.
Uber faces questions over how it will navigate any transition towards self-driving vehicles, a technology seen as potentially dramatically lowering costs but which could also disrupt its business model.
One advantage Uber will likely seek to play up to investors is that they are the largest player in numerous markets in which it operates.
Shares of recently listed Lyft Inc fell to a fresh low and closed the day down nearly 11 percent on Wednesday on news that rival Uber Technologies Inc was close to filing its own initial public offering.
Lyft went public with a relatively strong operating position in the wake of the viral #DeleteUber campaign, and it claimed having about 40 per cent of the United States market share.
Uber for years has been one of the most highly valued of a crop of venture-backed start-ups that includes its North American rival Lyft, which went public last month, as well as bookmarking site Pinterest and room-booking service Airbnb.
Uber is reserving some shares in the IPO for drivers who have completed 2,500 trips among other criteria.
The black hole at the center of the Milky Way, Sagittarius A, is 26,000 light years away from Earth and shrouded in dust and gas. But if a person were to somehow get close to this black hole , it might not look quite like that, astronomers said.
She says there was no vote and Trudeau expelled them anyway on the basis that the caucus didn't trust them anymore. The resignations, said Nutson, weren't meant as a "protest" against Prime Minister Justin Trudeau , heaven's no.
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I hope that she is OK; you never want to hear about anything bad happening to WWE superstars. "Marriages are not easy". In 2008, Hunter was accused of sexually harassing a staffer on his wife's radio show, The Wendy Williams Experience.
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