Uber Files to Go Public in What Could Be One of Biggest IPOs

Credit: Newsy Studio
Published on April 12, 2019 - Duration: 01:05s

Uber Files to Go Public in What Could Be One of Biggest IPOs

The ride-sharing company filed paperwork Thursday to start trading on the New York Stock Exchange, possibly as soon as May.


Uber Files to Go Public in What Could Be One of Biggest IPOs

Uber  is one step closer to going public on the New York Stock Exchange.

The ride-sharing company filed the  necessary SEC paperwork  Thursday to start trading.

That could happen as soon as  next month .   Experts predict this could be one of the  biggest initial public offerings  in history,  potentially valuing  the company at some $100 billion.  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.  E xperts 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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