The company said it lost $10 billion since 2016, underscoring the extremely precarious nature of Uber’s business design. The filing revealed Uber had 91 million users on its platforms in the end of 2018.
The company, which got its start as an app-based luxury car service in San Francisco at 2009, is presently one of the most dominant transportation services from the world, controlling over 60% of the US market and logging countless rides all over the world. Besides a car service, Uber is in the process of attempting to assemble itself into a one-stop store for many different modes of transportation, such as car sharing, scooters, bikes, and transportation. Later on, Uber intends to have autonomous automobiles and aircraft that is electrical available.
Uber filed records with the Securities and Exchange Commission to become a public company Thursday, in what’s expected to be among the largest tech IPOs in history. Therefore, Uber will sell around $10 billion worth of stock in its own IPO.