Uber, the Mother of All Unicorns, Will Finally Begin Its IPO Process in April, Report Says
Uber is planning to begin its long-delayed IPO process in April, Reuters reported Thursday. The offering, which could value the company at $120 billion—the largest of several tech IPOs in 2019—will probably start after the stock of Lyft, its chief rival, has already debuted.
Uber is planning to file its S-1 prospectus with the Securities and Exchange Commission in April and begin its investor roadshow shortly thereafter, Reuters said, citing unnamed people familiar with the matter. Lyft filed its own prospectus on March 1 and is expected to debut in the public stock market later this month.
Lyft and Uber are not only competing for customers but, in the close timing of their respective IPOs, for investor dollars as well. Typically, being first out the IPO gate gives a competitive advantage, especially when investors are eager to gain exposure in a new, growing industry. In the case of Uber and Lyft, however, many large institutional investors already have access to the companies through participation in private rounds of investment.