Uber plans to kick-off IPO in April

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Uber plans to kick-off IPO in April

Ride-hailing giant, Uber technologies Inc had been exploring the options of kicking off their initial public offerings by April, putting it closer to its smaller rival Lyft Inc., people familiar with the subject matter revealed on Thursday, the 14th of March 2019.

Since a shoulder-to-shoulder rivalry between, the two loss-making companies, Uber and Lyft had been extended in to a rattling battle, Uber would likely to time its IPO just a notch later Lyft completes their initial public offering, which is expected to take place by the end of March.

According to an Uber official, Uber may have been issuing their required public disclosure, widely known as S-1, alongside launching an investor roadshow next month. Indubitably, those moves would set in motion the IPO process of Silicon Valley’s one of the most closely-watched companies.

The global logistics and transportation company, Uber had recently valued at $76 billion in private markets and it has been expecting a valuation as high as $120 billion, although some analysts had already commented that the figures would be much-lower than anticipated, closer to $100 billion based on the financial data Uber disclosed.

Last year, the US-based ride hailing giant, Uber had raised a revenue of $11.3 billion, while its gross bookings from rides, generated roughly $50 billion.