Uber plans to kick off IPO in April, right after Lyft's

SoftBank, Toyota in talks to invest $1B in Uber's self-driving unit: Report

Ride-hailing services giant Uber Technologies is planning to kick off much-anticipated initial public offering in April, Reuters reports, citing people familiar with the matter.

But the close proximity of the two IPOs could test the public market's appetite for ride-sharing investments. Lyft, by contrast, said in its prospectus that its 2018 revenue totaled $2.2 billion and a loss of $911 million, which according to Axios would be the largest loss ever for a company entering the public markets for the first time.

Lyft, a smaller firm which has ride-hailing and bike-renting in the United States and several Canadian cities, is seeking a valuation of $20 billion to $25 billion, up from its $15 billion valuation as a private company.

Dara Khosrowshahi, chief executive officer of Uber, has previously said a culture change is a work in progress.

Being ahead of its larger rival allows Lyft to take advantage of pent-up investor demand for high-growth tech companies, rather than ceding available investor capital to Uber.


Dara Khosrowshahi, Uber's chief executive officer, ordered the San Francisco-based company to take the cars off the road for much of past year.

Since Uber still has weeks of preparation before releasing third IPO, Lyft has a great shot at issuing Lyft IPO before Uber gets a chance to do so, which will help the company avoid being overshadowed by Uber that undoubtedly has more operational force in oppose to Lyft.

Both companies have been steadily increasing revenue, however, both companies are also losing billions of dollars per year as they attempt to reign in costs and make other tweaks in their quest to achieve profitability. The company lost $US911 million. It operates in more than 70 countries and includes ride-hailing, bike and scooter rentals, freight hauling, food delivery and a self-driving auto division.

SoftBank Group and Toyota Motor are leading a group of investors in talks to invest $1 billion or more into the unit.

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