Uber Files To Go Public In What Could Be One Of The Biggest IPOs Ever
The ride-sharing company filed paperwork Thursday to start trading on the New York Stock Exchange, possibly as soon as May.
Uber is one step closer to going public on the New York Stock Exchange.
Uber's move comes after ride-sharing service Lyft listed on the Nasdaq last month, the first in a series of expected tech IPOs this year.
One surprise in Uber's filing? The disclosure that it lost almost $2 billion last year, which may not sit well with investors.
But the company's no stranger to scrutiny. Uber's had its share of criticism over safety issues and its company culture practices in recent years. In fact, in a letter to shareholders, current CEO Dara Khosrowshahi acknowledged the company's missteps and challenges.
Experts say it's a good sign that the market appears to be craving public offerings. According to Bloomberg, there were more U.S. big tech public debuts in 2018 than in any other year since the financial crisis, and 2019 is also expected to be strong.
Additional reporting from Newsy affiliate CNN.
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