The network is about to smash the storm, and this storm is in North America. On April 12th, Uber, the global mobile traveler, officially submitted a prospectus to the SEC. It is worth noting that Uber's IPO application has a maximum financing amount of $1 billion, which is much lower than the $10 billion previously speculated by many media. Just before Uber submitted its prospectus, its rival Lyft's share price plummeted 11%.
On the one hand, in the North American market, Uber and Lyft have long been in a state of catching and killing. Although Uber's market size is higher than Lyft, there are signs that Lyft may have a tendency to rise; on the other hand, when fighting with Uber China, Didi started the pace of internationalization. After the high-profile announcement of “wintering” at the beginning of this year, it accelerated the process. There have been rumors that it may be listed this year. When the three parties meet, will the network car "World War" be triggered? At the same time, there are different levels of mutual shares between Uber, Lyft and Didi, which adds to the suspense and tension of this drama.
Uber's profit is still in the foreseeable future
A number of media have previously reported that Uber's valuation is as high as $100 billion and it is expected to raise $10 billion. However, the prospectus issued by it has not disclosed the specific issue price range, circulation, etc. The total amount of funds raised in the $1 billion mentioned is only a placeholder for calculating the registration fee.
The Uber prospectus shows that in 2018, the company’s revenue was $11.27 billion.Net profit$9.77 billion; adjusted loss before interest, taxes, depreciation and amortization was $1.8 billion; total taxi business was $41.5 billion, and taxi business revenue was $9.2 billion.