Uber filed documents Thursday to take the ride-hailing giant public, the most anticipated of the year’s high-profile technology stock-exchange listings.
It’s a watershed moment for Uber, which said its stock market symbol would be UBER. The company is expected to list its shares on May 10 as it seeks to raise funding in the neighborhood of $10 billion at a $100 billion valuation.
Since its launch in 2009, Uber has worked toward global dominance of the ride-hailing industry through a cash-burning strategy of investor-subsidized fares. Uber operates in 63 countries and has millions of customers. By the end of 2018, 74 percent of its trips were taking place outside the United States, Uber said in its filing.
Recent comments