Uber released its long-awaited IPO prospectus. The company will list on the New York Stock Exchange under the symbol “UBER.”
The company has self-reported unaudited financials for several quarters — one of the few tech giants expected to debut this year to do so. That means the public S-1 serves less as the typical first look into financials and acts more as a contextualized official record.
The filing comes about two weeks after rival Lyft debuted on the public markets.
The two ride-hailing companies had been racing toward the public markets practically in tandem, though Uber’s offering is likely to be significantly larger, and one of the largest offerings this year. The company was previously reported to be seeking a valuation of up to $120 billion.
Uber reported 2018 revenue of $11.27 billion. The company posted net income of $997 million in 2018, but an adjusted EBITDA loss of $1.85 billion.
Uber reported a metric it called “Monthly Active Platform Consumers” or “MAPC,” which reflects “the number of unique consumers who completed a Ridesharing or New Mobility ride or received an Uber Eats meal on our platform at least once in a given month, averaged over each month