FIRST AIRED: April 12, 2019

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00:00:00
uber officially filed for its initial public offering Thursday giving investors a detailed look at its finances and bringing the ride hailing service a step closer to one of the biggest tech stock listings of all time Reuters correspondent Carl o'donnell reviewed the filing this is going to be the largest IPO so far this year one of the largest IPOs in history revealed for the first time the total number of users on the platform ninety one million substantially larger than competitors like left %HESITATION and again highlighting why it is that uber is aiming for such a lofty valuation its I PO one hundred billion dollars is the valuation uber is aiming for that would be roughly nine times the revenue it brought in last year but still less than the multiple it which lift when public that debuts gotten off to a rocky start with the stock now trading fifteen percent below its offer price the big task for over over the next several weeks is going to be to convince investors that they are going to trade better than their peer left did a lift IPO would last month and it's been trading below its IPO price of big disappointment for a much sought after and very fast growing company over is going to need to explain the given its size given its diversity it's it's a substantially better bet for investors both companies have the same problem losses who were lost three billion dollars in twenty eighteen list losses meanwhile swelled to more than nine hundred million dollars the same year and while both companies are growing they face an uncertain road to becoming profitable has repeated warnings that there's no guarantee that they're going to obtain your term profitability and they may be potentially never be profitable so clearly a lot of challenges for them but there remains a lot of investor enthusiasm Reuters reported this week that uber plans to sell around ten billion dollars worth of stock assigned uber is betting that investors can tolerate the losses for now