Uber IPO Filing Shows Growth Leveling Off
11 April 2019 4:41 PM GMT
Uber Technologies Inc. made its IPO papers public Thursday, revealing some of the secrets of a company with big, global ambitions that faces slowing growth in its core ride-hailing business.
- Uber plans to list its shares on the New York Stock Exchange under the symbol UBER.
- The company's total losses on operations-excluding items like sales of business units-totaled more than $10 billion between 2016 and 2018, and were $3.03 billion last year alone.
- Uber said its ride-hailing market share "generally declined in 2018 in the substantial majority of the regions in which we operate," hurt by subsidies and discounts by competitors.
- The company said it spent nearly $1.1 billion on research and development for its autonomous-vehicle division and other related technology development between 2016 and 2018.