In IPO, Uber reveals 91 million users but slowing growth

In IPO, Uber reveals 91 million users but slowing growth

Documents released Thursday offered the most detailed view of the world's largest ride-hailing service since its inception a decade ago.

Uber a year ago had revenue of $11.3 billion, while gross bookings from rides was $50 billion.

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.

Uber 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.

In identifying potential risks for its public filing, Uber acknowledged that it has "incurred significant losses since inception".

Uber plans to make its IPO registration with the United States Securities and Exchange Commission publicly available later this week, and will kick of its investor roadshow during the week of April 29, putting it on track to price its IPO and begin trading on the New York Stock Exchange in early May, the sources said.

There are questions about how Uber will navigate any transition towards self-driving vehicles, a technology which is seen as potentially dramatically lowering costs but which could also disrupt its business model. "The primary issue is around the underlying metrics that Uber will discuss around take rates, ride sharing data, driver ecosystem, and a myriad of other metrics relative to Lyft which may put the company in a more negative light".

- Travis Kalanick, Uber's founder, owns 8.6%.

A #DeleteUber campaign surged on social media in 2017 after a public relations crisis, which Uber said in its filing meant hundreds of thousands of consumers stopped using its platform within days. Uber declined to comment for the report which cited unnamed people familiar with the matter. Lyft shares had been priced at a range of US$62 to US$68.



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