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".

More news: Solskjaer insists Manchester United 'played well' in Arsenal defeat
More news: Late-winter storm hits Midwest after paralyzing Colorado
More news: Australia's 2-year ODI losing streak ends in New Delhi

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.

Related Articles

  • BRILLIANT Federer concedes 5 games to Edmund in Indian Wells

    BRILLIANT Federer concedes 5 games to Edmund in Indian Wells

    In the evening, Gael Monfils stretched his best start to a season to 15-3 after dominating Philipp Kohlschreiber 6-0, 6-2. But he couldn't overcome Nadal , who lost his serve just once in the 1½-hour match in sunny and windy conditions.
    O'Brien back for Ireland as Beirne makes Six Nations bow

    O'Brien back for Ireland as Beirne makes Six Nations bow

    Kearney has overcome a calf injury to take position at full-back pushing Jordan Larmour to the bench. Rory Best will lead the traditional eve of match Captain's Run at the Principality Stadium.
    Villarreal and Valencia drawn together in Europa League quarter-final

    Villarreal and Valencia drawn together in Europa League quarter-final

    Villarreal who have reached the semifinals in 2004, 2011 and 2016 will take on 2004 winners Valencia CF in a Spanish derby. A Napoli final again from Maurizio Sarri's position would be pretty exciting.
  • Rebellion Announce Four New Sniper Elite Projects

    Rebellion Announce Four New Sniper Elite Projects

    Developer and publisher Rebellion have just announced that they have a total of 4, yes 4!, Sniper Elite projects on the go. British developer Rebellion has today announced a few new massive projects based around the Sniper Elite series.
    ‘Absolutely his intention’: Christchurch gunman planned further attacks, had other firearms

    ‘Absolutely his intention’: Christchurch gunman planned further attacks, had other firearms

    Two other people have been apprehended and are being questioned about what role, if any, they had in the attacks . Tarrant, 28, flashed a white power gesture as he appeared in court Saturday charged with one count of murder.
    European clubs say will boycott FIFA’s Club World Cup

    European clubs say will boycott FIFA’s Club World Cup

    The increase in teams will see the tournament feature 80 matches instead of the 64 used in a traditional 32-team World Cup. He also revealed FIFA's decision to launch a revamped world club competition that includes 24 teams starting 2021.
  • Cokanasiga out of England squad to face Scotland

    Cokanasiga out of England squad to face Scotland

    The hosts thought they had scored again, in the 19th minute, but TV replays showed Ben Youngs had knocked on. And you want these sorts of lessons before you go to the World Cup.
    Love Island's Michael Thalassitis has died, aged 26

    Love Island's Michael Thalassitis has died, aged 26

    Since news of his death broke, fans and co-stars have taken to social media to pay their tributes to the late reality star. Mike was a semi-professional footballer and one of his old teams, Chelmsford City FC, has paid tribute to the sportsman.
    PM Khan condemns terrorist attack on mosques in Christchurch

    PM Khan condemns terrorist attack on mosques in Christchurch

    Ankara on Friday said it was investigating Tarrant's multiple visits to Turkey, and who he might have met while he was there. Ms Ardern said "a complex and comprehensive investigation is under way", with Australian authorities involved.
  • Federer breezes into Indian Wells semis

    Federer breezes into Indian Wells semis

    While Nadal said he feels knee pain "almost always", in the face of this latest setback he insisted: "My goal doesn't change". The match will mark the 39th time the two legends play one another, but it'll be their first meeting since Shanghai 2017.
    Golden Tate Drawing Interest From Patriots In Free Agency

    Golden Tate Drawing Interest From Patriots In Free Agency

    Trading Beckham put the Giants in a likely rebuilding mode. "I don't have time to go someone who's trying to rebuild". But instead of wearing the Philadelphia Eagles' midnight green, he'll be wearing the blue of the New York Giants .
    Sterling headed for best week since January after Brexit votes

    Sterling headed for best week since January after Brexit votes

    Mrs May's spokesman has said that the government was still making preparations in the event of a no-deal divorce. May's decision to offer a free vote on an issue where there are "strong views on all sides of the debate".