In the IPO documents, Uber mentions the competitive pressure it has been facing here in both ride-sharing and food-delivery business from Ola, Zomato and Swiggy, and that they may have the advantage of being a local player.
"In 2019, we plan to release a transparency report, which will provide the public with data related to reports of sexual assaults and other safety incidents claimed to have occurred on our platform in the United States", Uber said in the filing. The company said it sustained an operating loss of $3 billion.
Uber is the largest of the "unicorns" or venture backed firms worth at least $1 billion to list on Wall Street, and is one of the key companies in the "sharing economy" which is based on offering services to replace ownership of cars, homes and other commodities. At the same time, Uber's spending continues to rise, reaching US$14.3 billion past year, up 19 per cent from 2017.
The investment bankers handling Uber's IPO are expected to reveal a pricing range for Uber's shares later this month.
The company is on track to price its IPO and begin trading on the New York Stock Exchange in early May. The company disclosed in its S-1 filing that it now has 30 million cars on its platform in India, of a total 850 million across the world. And it is very likely to be the largest among US tech companies because Facebook took its bow on Wall Street seven decades ago in a time when most people had never considered using a program in their smartphone to summon a ride from strangers driving their own cars. In addition, the company invests large sums in such enterprises as food delivery and scooters.
The ridesharing giant is also working on self-driving robots that should work on food deliveries for UberEats, additionally planning on expanding the business to food and freight delivery on bicycles and motorcycles. The setbacks have included rampant internal sexual harassment and allegations it stole self-driving auto technology.
Travis Kalanick, the CEO who stepped in 2017 under stress from the board, is one of Uber shareholders, owning almost 9 percent of the firm's stock. Now it will be up to Kalanick's successor, Khosrowshahi, to persuade investors that Uber has cleaned up its act and merits a market value higher than Ford Motor and General Motors combined. But in 2017, it has more than doubled compared to 2016.
But it suspended testing when one of its self-driving vehicles struck and killed a pedestrian in Arizona past year. But Uber's competitors in the autonomous space, which the company names as Waymo, Cruise Automation, Tesla, Apple, Zoox, Aptiv, May Mobility, Pronto.ai, Aurora, and Nuro, may eventually launch products that "prove more effective than our autonomous vehicle technologies".
The parent firm of Google, alphabet, owns 5 percent of the company as it competes with Uber on self-driving technology. Since then, however, Lyft's stock has plummeted more than 20 percent and is expected to cast a shadow on Uber's offering.
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