Uber filed documents with the Securities and Exchange Commission to become a public company Thursday, in what is expected to be one of the biggest tech IPOs in history. The company said it lost $10 billion since 2016, underscoring the precarious nature of Uber’s business.
Uber says it will continue to bleed cash as it seeks to recruit more drivers, find new customers, and generally grow its share of the ride-share market in its paperwork: “Many of our efforts to generate revenue are new and unproven, and any failure to adequately increase revenue or contain the related costs could prevent us from attaining or increasing profitability.”
The company is seeking a valuation of between $90 billion and $100 billion, as was previously reported...
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