DENVER BUSINESS JOURNAL — Uber’s long-awaited IPO moved closer to the finish line with the ride-hailing behemoth filing confidential paperwork for its initial public offering last week, according to a report in the Wall Street Journal.
Uber and Lyft are in a race to the public markets, with Lyft issuing a statement on Thursday that it had also confidentially filed a draft registration statement with the Securities and Exchange Commission (SEC).
Not only will the two arch-rivals be competing for institutional investors potentially at the same time, but whoever launches their IPO first does not have the additional worry about potential backlash if the other’s IPO if it fails to perform as investors had expected.
Uber’s filing, the Journal reports, suggests the company may launch its IPO as early as the first quarter, which would be sooner than the second half of next year as Uber CEO Dara Khosrowshahi has previously said. Lyft, meanwhile, is eyeing an IPO for March or April, the Journal reports.
Read more at the Denver Business Journal: https://bit.ly/2C1gJgw
