Uber plans to kick off IPO in April

Uber plans to kick off IPO in April

SoftBank and Uber declined to comment. Lyft, by contrast, said in its prospectus that its 2018 revenue totaled $2.2 billion and a loss of $911 million, which according to Axios would be the largest loss ever for a company entering the public markets for the first time.

If all goes to plan, commuters could ride an e-scooter to a transit station, take a train, then grab an e-bike, share a ride or take an e-scooter at the arriving station to complete a journey - all using an Uber app on a smartphone. The company, based in San Francisco, could hit a valuation of $120 billion when it reaches the stock market.

The investment talks come as Uber is racing towards a public listing, with an IPO expected in the coming months.

Lyft seeks a valuation of United States dollars 20 to 25 billion, having been valued at USD 15 billion as a private company. And a successful IPO for Lyft would allow Uber to benefit from market euphoria and also demand a high valuation.

"There will be competition for investor capital in the space between the two companies with them going out so close together".

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SoftBank is already a major investor in Uber after it acquired about 17.5 percent of the ride-hailing firm's stock past year at a significant discount.

SoftBank Group and Toyota Motor are leading a group of investors in talks to invest $1 billion or more into the unit. But the company lost $3.3 billion, excluding gains from the sale of its overseas business units in Russian Federation and Southeast Asia.

Dara Khosrowshahi, chief executive officer of Uber, has previously said a culture change is a work in progress. But its autonomous unit, formed in 2014, loses between $100 million and $200 million each quarter.

Uber has been exploring a deal to bring on outside investors for the self-driving business since past year.

Uber's business operates in more than 70 countries and includes not only ride-hailing but also bike and scooter rentals, freight hauling, food delivery and an expensive self-driving auto division. Taking on large investors that will influence a key business is an unusual move for a company so close to an IPO.

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