Business Maverick: Uber Is Said to Seek About $10 Billion in Year’s Biggest IPO

The global ride-hailing company will kick off a road show this month and would begin trading publicly in May, said the people, who asked not to be identified because the information is private. Uber is seeking to raise about $10 billion, one of the people said.While Uber has released partial financial results for years, its IPO filing with the U.S. Securities and Exchange Commission will provide the first complete look at its numbers and operations.

“The main thing is going to be the ride-sharing metrics versus Lyft,” said Wedbush Securities analyst Dan Ives. “I think in the view of many investors Lyft is the little brother to Uber.” Uber said in February that it generated $50 billion in gross bookings last year, up about 45 percent from 2017. But the figures show slowing growth. Of the $11.4 billion of net revenue in 2018, only $3 billion came in the last three months of the year, up only 2 percent from the previous quarter. While that number gave the San Francisco-based company a year-over-year quarterly growth rate of 25 percent — high by most standards — it fell well short of the 38 percent rate for the third quarter.

Breaking out Uber’s U.S. ride-hailing business from its global operations will be a particular focus for those parsing its IPO to compare it to Lyft, which operates in the U.S. and Canada. A key point of inquiry will be whether Uber has already saturated the U.S. market. “I don’t know if they’re going to give us enough to get to that level of specificity but the U.S. is the oldest most mature market,” said Tom White, a senior analyst at DA Davidson & Co. “I think some investors think it has slowed significantly.”

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Survé compares Sagarmatha to Uber, says it would have been valued at $10bn | Business | M&GThe chairperson of Independent Media, Iqbal Survé, compared Sagarmatha to Uber, saying if it had listed on the JSE and then on the New York Stock Exchange he had “no doubt” it would have reached a market capitalisation of $10-billion.
Источник: mailandguardian - 🏆 2. / 92 Прочитайте больше »

Business Maverick: Africa Growth at 7-Year High, No Thanks to Its Major EconomiesGrowth in Africa’s two largest economies may be sputtering along but that won’t stop the continent’s gross domestic product from expanding at the fastest pace since at least 2012.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

Business Maverick: Stocks Post Longest Rally of Year; Dollar Gains: Markets WrapU.S. stocks rose for a sixth consecutive day and the dollar strengthened as investors remained bullish about U.S.-China trade negotiations and key jobs data tomorrow in Washington. info well noted daily maverick
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

Business Maverick: Debt, State Firms Are Risks to South Africa Rating, Moody’s SaysSouth Africa may struggle to hang on to its sole investment-grade credit rating if economic growth persists at weak levels and if government debt and risk from state-owned companies rises, Moody’s Investors Service said.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

Business Maverick: Lagarde Says Global Economy Has Lost Momentum Since JanuaryGlobal growth has lost momentum since the start of the year, leaving the world economy in a “precarious” position, IMF Managing Director Christine Lagarde said.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

Business Maverick: Ayo Ex-CIO Says South African Company Is Partly IllegitimateAyo Technology Solutions Ltd. is at least partly an illegitimate business and has fabricated financial statements even while securing a R4.3-billion investment by the Public Investment Corporation, according to Ayo’s former chief investment officer.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »