Thu06202019

Robins Global News & Noticias



  • Shipping Advice
    Shipping Advice
  • Featured Guest Post
    Featured Guest Post
  • Featured Guest Post
    Featured Guest Post
  • Featured Guest Post
    Featured Guest Post
  • Trump Pence News
    Trump Pence News
  • Weather Alerts
    Weather Alerts

RobinsPost News Network

+ Larger Font | + Smaller Font

Consumer Daily Reports

Consumer News: Uber releases IPO prospectus

PhotoTwo weeks after Lyft made its stock market debut, Uber released its initial public offering filing. The company said in the document released Thursday that it makes 14 million trips daily, has made 10 billion trips in total, and has paid out $78 billion total to drivers since first launching in 2009.  

CEO Dara Khosrowshahi said that despite the fact that the company has generated $11 billion in annual revenue, it’s just getting started.  

"Uber accounts for less than 1% of all miles driven globally," he wrote in an accompanying letter to investors. "We are still barely scratching the surface when it comes to huge industries like food and logistics and how the future of urban mobility will reshape cities for the better."

Never profitable?

In less positive news, Uber revealed in the filing that it has incurred “significant” losses since its inception. The firm said it lost $1.8 billion in 2018 and $4 billion in 2017.

The ride-hailing giant admitted that it may never be profitable, as its potential to turn a profit is being hampered by factors including cutting prices for passengers, spending to recruit drivers, and investing in businesses such as food delivery and scooters.

"We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability," Uber said candidly. Khosrowshahi said the company’s future will be shaped by worthwhile investments.

“We will not shy away from making short-term financial sacrifices where we see clear long-term benefits,” he said in the letter.

Analysts say Uber could see a valuation of about $100 billion, which would likely make it the biggest IPO of 2019. Several other big companies are expected to go public, including Pinterest, Slack, and Postmates.

Uber is expected to provide a price range for its shares later this month. Its shares are set to begin trading next month under the “UBER” ticker symbol.



Posted: 2019-04-12 14:16:13

Get Full News Story On Consumer Affairs


Listen to this article. Speaker link opens in a new window.
Text To Speech BETA Test Version.


Print Friendly and PDF Share Embed


Related News Stories From The Web And More

Related Bing News

Consumer News: Uber releases IPO prospectus | Consumer Daily Reports | RobinsPost News Network - Newscast

Why Uber's business model is unsustainable and 'will never make money' after poor IPO performance

Fri, 07 Jun 2019 09:19:00 GMT

Uber's costs are higher than traditional cab operators, and nothing in Uber's IPO prospectus offers any clue as to how ... Uber clearly undersupplied safety, insurance, and basic consumer protections ...

Uber Reports First Quarter 2019 Results

Thu, 30 May 2019 13:26:00 GMT

Financial and Operational Highlights “Our Q1 2019 results were at or near the high end of the ranges we shared last month in our IPO prospectus ... earnings releases, and blogs, on our investor ...

Uber Reports First Quarter 2019 Results

Wed, 29 May 2019 21:05:00 GMT

Financial and Operational Highlights "Our Q1 2019 results were at or near the high end of the ranges we shared last month in our IPO prospectus," said Nelson ... launched nationally in the US: Uber ...

ProfNet Experts Available on Uber IPO, Pregnancy Discrimination, More

Mon, 13 May 2019 09:43:00 GMT

I'd argue that given Uber's current valuation, signs are pointing to yes. Not only is the company losing money — and it literally loses money with each ride it provides — the path to profitability is ...

Investors sue Lyft following slide in IPO value

Fri, 19 Apr 2019 10:06:00 GMT

How will this affect Uber’s forthcoming IPO? Lyft’s prospectus and subsequent ... Get the news you need delivered right to you! Join over 300,000 subscribers and receive the latest expert advice, ...

Related Bing Web Search

  • No items found
  • Related News Story Videos From Youtube

    CEO of 'Amazon of Africa' discusses company's IPO and what it's doing differently


    Related Videos On: CEO of 'Amazon of Africa' discusses company's IPO and what it's doing differently


    Free Cryptocurrency Course: Learn Everything You Need to Know About Cryptocurrencies Today!


    Related Videos On: Free Cryptocurrency Course: Learn Everything You Need to Know About Cryptocurrencies Today!


    Blockchain : développements récents et applications | Recent developments and applications


    Related Videos On: Blockchain : développements récents et applications | Recent developments and applications


    WCUS 2018 Banjo Sat AM


    Related Videos On: WCUS 2018 Banjo Sat AM


    Bitcoin Politics, Community and Regulation - Crypto Academy Lecture 7


    Related Videos On: Bitcoin Politics, Community and Regulation - Crypto Academy Lecture 7






    Blow Us A Whistle

    Comments (Whistles) Designed By Disqus




    Company Information

    Official Content Providers











    PRIVACY POLICY

    We recommend Firefox 3 (and above), Edge, and Chrome for dynamic performance.
    © 2008-2019 RobinsPost (The Bird's Eye View Company) All rights are reserved.
    RobinsPost provides links to news sites based on their RSS feeds.
    All trademarks, copyrights, videos, photos and logos are owned by news sources.
    News stories, videos and live streams are from trusted sources:
    Bing News, Google News, Faroo News, NewsApi.org and YouTube Search Results.
    ROBINSPOST Is Proudly Made In America.
    Where Quality, Safety and Service Comes First.