On Thursday we realized Lyft filed papers for an preliminary public providing set to happen in 2019, and Friday night some “individuals acquainted with its plans” stated the identical to the Wall Road Journal about ride-hailing rival Uber. In accordance with the New York Occasions, Uber additionally filed its paperwork with the SEC on Thursday, setting the stage for each firms to compete over who can get their shares in the marketplace first. Ever since changing Travis Kalanick final yr, getting the corporate by means of its IPO has been a significant consideration for CEO Dara Khosrowshahi, and this information means it might occur before previously-anticipated, transferring it from mid- or late 2019 to the primary quarter of the yr.
These transportation apps have seen a number of the largest progress these days, however they are not the one tech firms getting ready to go public, with others like Slack and Airbnb probably in line.
The businesses have related incentives with workers and buyers alike ready to money in, amid worries of a potential recession and the difficulty that each are reportedly unprofitable. Bankers have apparently estimated Uber’s IPO worth at $120 billion, effectively above the $72 billion estimate from its final spherical of funding so you possibly can see why they’d wish to strike.