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00:00:00
as the two biggest ride hailing apps uber and lift race to debut on the stock market this year sources told Reuters the much smaller lift is planning to pitch itself to investors as the one that's growing faster readers reporter heather Somerville so this means it'll be showing things like how many rights per passenger they're selling just show that they are growing really fast in the US market lift will also be telling investors that its market share in the United States has grown from thirty five percent early last year to about forty percent and its expanded the number of cities a service from about two hundred and early twenty seventeen to now more than six hundred so it's really double down on growth and it really benefited from ubers scandal after scandal after scandal that happened in twenty seventeen both companies filed for an initial public offering on the same day in early December Hoover remains the undisputed king of ride hailing in terms of size its third quarter revenue last year rose almost forty percent to nearly three billion dollars it's in more than seventy countries and also has freight hauling food delivery autonomous driving businesses and is experimenting with air taxi business is an artificial intelligence with doesn't disclose how much it makes and for now is only in the US and Canada and is focused on the ride hailing business people who live in places like San Francisco New York or Los Angeles we would be very custom to ride hailing we're used to seeing left an uber cars everywhere but keep in mind this is still a very very new business it's a very decent in most of the country so there's a lot of growth opportunity and since both uber and lift do not have profits they will really be selling gross to investors lift expects to be valued at twenty to thirty billion dollars investment bankers have said uber could fetch as much as a hundred twenty billion dollars in an IPO making it one of the law , largest on record