The timing for Uber’s IPO means it will most likely hit public markets soon after Lyft completes its own public offering, which is expected to happen by the end of March.
Lyft’s revenue was $2.16 billion (1.63 billion pounds) for 2018, double the previous year and up 528 percent from 2016.
Drivers who have driven the longest and logged the most miles for the companies may get the rare chance to purchase stock in the IPO, before shares begin trading.
Lyft is under pressure to sell investors on its prospects as it races neck-and-neck with Uber to an IPO that could take place in the second quarter of 2019.
Chinese venture funding in U.S. startups crested to a record $3 billion last year, according to New York economic research firm Rhodium Group.
Uber is eager to beat Lyft to Wall Street, a sign of the company’s entrenched competitiveness.
Uber plans to begin driving “a handful” of cars on a mile loop between two company offices in Pittsburgh, where Uber first debuted its autonomous vehicles in 2016.
Stripe will use the funds to fuel growth in key overseas markets such as Southeast Asia and India
Uber must meet its self-imposed deadline of an IPO next year or a shareholder provision that would lift transfer restrictions on shares could create a chaotic market of buying and selling Uber stock.
A Chinese government database showed that Facebook had gained approval to open a subsidiary, but the registration has since disappeared.