Uber Could File For An IPO Any Minute
Sources say Uber could file for its initial public offering as soon as today, according to Business Insider.
The ride-hailing giant's offering could be one of the largest in years, and could raise the tech unicorn more than $10 billion.
But there's one big cloud casting a shadow on everything: Lyft.
Uber's biggest competitor has about a 35% market share in the United States, and beat the company to public markets last month, netting a valuation of about $18 billion.
However, in their first two trading weeks, shared of Lyft have fallen more than 20%, despite an oversubscribed IPO that initially traded well above its initial price.
Both companies are deeply unprofitable — and provide basically the same basic services.
So the competition comes down to other factors: driver pay, market share, and other factors that can help get the companies to positive cash flow.