Uber files much awaited IPO, reveals loss of $1.8B in 2018

Uber is seeking a valuation of between $90-$100bn. — Reuters  File

There have many numerous instances over the years of Uber drivers assaulting their passengers, and the company warns there is likely to be more in the future.

Uber says it will continue to bleed cash as it seeks to recruit more drivers, find new customers, and generally grow its share of the ride-share market in its paperwork: "Many of our efforts to generate revenue are new and unproven, and any failure to adequately increase revenue or contain the related costs could prevent us from attaining or increasing profitability".

Uber in 2018 had $11.3 billion revenue, up around 42 percent over 2017, but below the 106 percent growth the prior year. The non-EBITDA net income, however, is an impressive turnaround compared to its 2017 full-year loss of more than $4 million.

Uber's float will be the largest since Alibaba, the Chinese ecommerce conglomerate, listed on the Nasdaq exchange in 2014, raising a record $25 billion. It reportedly plans to sell about $10 billion worth of stock, which would make it one of the largest U.S. tech IPOs ever coming in at an anticipated $120 billion. And as is the case for Lyft, it remains unclear whether there is lasting demand for Uber's two main products - on-demand rides and restaurant meal deliveries through Uber Eats - and whether any of it is financially viable.

Uber intends to provide a price range for its shares by late April, and go public in May.

Uber will begin its IPO roadshow next week with shares hitting markets in May. In 2018, its revenue rose 42per cent to US$11.3 billion from a year earlier.

Uber also engages in some sleight of hand about the ties connecting all its businesses.

Million Rock 'n Play Sleepers Recalled by Fisher-Price
Earlier this week , the American Academy of Paediatrics (AAP) urged the product's recall, labelling the sleeper "deadly". About 4.7 million units are affected by this recall and have been sold at major retailers for between $40 and $149.

Bees found living in Taiwanese woman's eye, eating her tears
The insects had made a new home inside the woman's eyelid - that is, until they were all successfully removed alive. The doctors at the Fooyin University Hospital were shocked to find those bees were feeding on her tears.

Premier League Top Four Betting: Arsenal's Champions League hopes suffer damaging blow
Arsenal and Napoli have met just twice before in Europe - home and away in the group stages of the Champions League in 2013-14. They fell at the semi final stage in 2014-15, but won the competition in 1988-89 with a side featuring Diego Maradona.

"I'm sure that the Lyft debut is going to affect both Uber and Pinterest", Hamilton added. Analysts consider building scale crucial for Uber's business model to become profitable.

Last year, the company brought in $2.6bn in the first quarter of the year, and $3bn in the final quarter, a much.

Those have included sexual harassment allegations, a massive data breach that was concealed from regulators, use of illicit software to evade authorities and allegations of bribery overseas.

As expected, Uber on Thursday dropped its initial offering document to pitch its business to investors, and befitting the company's size and complexity, it was a doozy.

Uber and Lyft signs are seen on a vehicle in Redondo Beach, California, U.S., March 25, 2019.

Uber filed for its IPO in December with the US Securities and Exchange Commission during the same week as Lyft.

Related news:

Hot News

isis-killer-beheading-video-story-top AOC: Climate Change Is a 'Major Factor' Driving the Migrant Crisis
Apr 13, 2019 - 07:51
However, it has been criticized by many, including by some Democrats, for being too ambitious and too expensive. Kerry was serving as a witness at the hearing as was former senator and Secretary of Defense Chuck Hagel .

isis-killer-beheading-video-story-top WikiLeaks founder Julian Assange has been arrested
Apr 13, 2019 - 07:43
The near one-minute clip showed an agitated, frail-looking man with white hair and a white beard escorted by the police. Moreno claimed Assange had been responsible for "repeated violations to global conventions and daily-life protocols".

isis-killer-beheading-video-story-top SpaceX carries out first commercial launch
Apr 13, 2019 - 07:39
The Falcon Heavy rocket exerts 5.1 million pounds of thrust - that of more than a dozen jetliners, SpaceX said. Last year's Falcon Heavy saw two of the three core stages land at Cape Canaveral's Landing Zones 1 and 2.

isis-killer-beheading-video-story-top Tesla's $35,000 Model 3 is only available as a special order
Apr 13, 2019 - 07:34
Lessees interested in a dual-motor Long Range Model 3 can easily find themselves with a $700 per month lease payment. Tesla says the changes were motivated by making online ordering more simple as well as responding to market demands.

isis-killer-beheading-video-story-top Sudan appoints chairman of new transitional council
Apr 13, 2019 - 07:12
The political committee will meet political parties and foreign diplomats during the course of Friday, state media reported . Protest organisers have called on the demonstrators to continue with the sit-in until their demands are met.

isis-killer-beheading-video-story-top Man charged with throwing child from balcony at Mall of America
Apr 13, 2019 - 06:48
The child fell to the first floor, where several witnesses and passersby tried to perform CPR on him, Potts said. The Star Tribune reports that the child was being treated at Children's Hospital in Minneapolis.

isis-killer-beheading-video-story-top Lok Sabha elections 2019 first phase: Polling under way in 91 seats
Apr 12, 2019 - 02:37
Four seats in Assam will go to polls, with former CM Tarun Gogoi's son Gaurav Gogoi testing poll waters from Kaliabor. A total of 1,279 candidates are int he fray, and their fate will be decided by over 14.21 crore voters.

isis-killer-beheading-video-story-top Netanyahu heads for fifth term as prime minister of Israel
Apr 12, 2019 - 02:32
The message was a sharp contrast from his campaign theme in which he accused Gantz of conspiring with Arab parties to topple him. Lapid, the party's No. 2 leader, said Blue and White would "show the people of Israel what a real alternative looks like".

isis-killer-beheading-video-story-top ‘I didn’t like the backstabbing’: Magic Johnson abruptly quits LA Lakers
Apr 12, 2019 - 02:29
The one team Bucher floated as a legitimate potential trade partner with the Lakers for James is the Milwaukee Bucks. James credited Johnson with closing the deal that sent him to the Lakers from the Cleveland Cavaliers.

isis-killer-beheading-video-story-top Trudeau broke law by kicking former ministers out of caucus, Philpott says
Apr 12, 2019 - 02:28
Philpott said that since she and Wilson-Raybould were kicked out of caucus, and didn't leave voluntarily, their situation is different.

isis-killer-beheading-video-story-top Virginia's title run wouldn't have been believable as a movie
Apr 11, 2019 - 01:50
Unfortunately, he was clearly hobbled and that impacted how the Red Raiders were able to perform on defence at least a little bit. So too did Hunter in the second half against the Red Raiders, who sent waves of defenders at him but mostly to no avail.

isis-killer-beheading-video-story-top EP approves visa-free travel for British after Brexit
Apr 11, 2019 - 01:46
French President Emmanuel Macron , however, said midday Friday that it was "premature" for the United Kingdom to request a Brexit extension from the EU.

isis-killer-beheading-video-story-top Chris Hemsworth happy to remain on as Thor
Apr 11, 2019 - 01:46
In it, Thor gave his - doubtless unwanted - endorsement of Brie Larson's Captain Marvel , as his hammer whistled past her head. That is when Hemsworth came up with a plan and it was to stuff Snickers candy bars into her shoes to make her appear taller.

isis-killer-beheading-video-story-top Attorney General Barr: 'I Think Spying Did Occur' Against Trump Campaign
Apr 11, 2019 - 01:42
Barr said he and Deputy Attorney General Rod Rosenstein decided that the evidence was insufficient to establish obstruction. Barr had said in his confirmation hearing that he wouldn't go after marijuana businesses that rely on the Cole Memo.

isis-killer-beheading-video-story-top April Blizzard Will Be One to Remember
Apr 11, 2019 - 01:24
Minneapolis, a major Delta hub, will be impacted by this snow, so there will likely be system-wide air delays due to this. Wednesday afternoon through Friday will be about 40 to 50 degrees colder than the temperatures Tuesday afternoon.