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It’s a troubling sign for a serially unprofitable business that hopes to get valued like a technology company in a planned initial public offering next year.
The best hope for resolving Uber’s Saudi stigma, insiders said, is for the company to go public, giving it more latitude to reshape its board. Public companies have little control over their investors, potentially absolving Uber of some of the blame for an autocratic bedfellow.
As it preps for its IPO next year, Lyft has been stressing its gains in ride-hailing. Uber, meanwhile, is trumpeting just about everything else.
Wall Street’s top banks, vying for a coveted underwriting spot on Uber’s IPO, suggest the San Francisco company could produce one of the most valuable offerings ever.
They’ve both raised hundreds of millions of dollars. But that isn’t stopping them from looking for new financing with even loftier valuations.
Uber CEO Dara Khosrowshahi has made the company’s food-delivery business a top priority ahead of a planned IPO in the second half of 2019.
Lyft plans to begin taking pitches from banks as soon as September, targeting March or April for the listing.
The deal reportedly values the US ride-hailing giant at $72 billion.
Khosrowshahi is searching for new businesses. In the last few months, Uber bought a startup that rents electric bicycles, invested in another one that rents electric scooters and went to work on its own scooter-rental business.
Ron is returning to Uber following a months-long, behind-the-scenes negotiation to rework the terms of Uber’s deal to acquire Otto Trucking.