Uber vs. Lyft IPO filing
Last week both Lyft and Uber filed a confidential draft document with the Securities and Exchange Commission in their race for initial public offering. Lyft was first. Uber was a runner-up.
However, Uber is still expected to beat Lyft in valuation since it is hard to beat the estimated US$120 billion. Lyft, in its turn, was valued at US$15 billion within the framework of the recent funding round. Soon we will be able to see where investors’ preferences lie. Probably, in the first half of 2019.
Uber has been changing transportation market for almost a decade now. It is hard to imagine that everything started in Paris when Travis Kalanick and Garrett Camp couldn’t get a taxi. On July 5, 2010 the first Uber ride in the history took place.
Since then a vast majority of campaigns and policies connected with the rideshare company have taken place, for instance, partnering with deaf drivers and military personnel, feeding children in need, supporting Saudi Arabian women in their voting, sticking to anti-racist policies, introduction of tipping, etc.
There have also been hard times for Uber as for any other business out there. Let alone all the hurdles on the part of governmental decisions, traffic situation, self-driving car problems, employee vs. independent contractor issues, etc.
Uber and Lyft are trying to improve constantly creating various loyalty programs for their drivers and riders. Unfortunately, it does not preclude them from bearing losses. In the third quarter of 2018, Uber lost US$1.07 billion, whereas Lyft lost US$254 million. At the same time, Uber’s IPO is expected to become one of the biggest IPOs in the world’s history.
We have been covering Uber vs. Lyft competition in our blog. Last companies’ move was introduction of Rewards programs. Visit our blog to read the latest rideshare news and tips for rideshare drivers.