Lyft Beats Its Rival Uber During The IPO Filing

Uber files for IPO, Wall Street Journal reports

The simultaneous filings extend the protracted battle between Uber and Lyft, which as fierce rivals have often rolled out identical services and matched each other's prices. From the waarderingsvoorstellen that Uber has received, shows that the company valued can be 120 billion dollars (approximately 105,4 billion euro). With a listing at the beginning of the year, it will be the biggest amount in what many expect to be a series of public debuts among those highly-coveted companies in Silicon Valley. Since then the company has appointed a new CEO, Dara Khosrowshahi, and is looking to regain investor confidence. The Khosrowshahi-led tech company has no doubt taken a giant step towards achieving a major milestone wildly-expected from one of the most promising and controversial startups in Silicon Valley.

According to a report it's been found that Uber wants to go public before Lyft to beat them regarding market valuation. Q3 revenue was up 5 percent, to $2.95 billion.

The Wall Street Journal reported Saturday that Uber had also filed for an IPO.

Uber recently announced plans to resume on-road testing of its self-driving cars in Pittsburgh.

No withstanding the excessive hype, Uber faces the stiff challenge of overcoming the concerns of the investment community well before its IPO hits the market. Rival Lyft is said to be valued at $15 billion.

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Still, Uber operates in more than 70 countries, while Lyft is in the US and Canada, although the smaller company is plotting a global expansion.

"The S-1 filing with the SEC puts Uber neck-and-neck with Lyft".

The businesses include freight hauling, food delivery and electric bike and scooter rentals.

While Uber originally planned to publicly list in around mid-2019, the company is now looking to go public in the first quarter of next year. While it continues to grow faster than its larger competitor, Uber, it is also losing money. But an earlier filling implies that the ride-hailing firm will debut much earlier than that.

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