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Uber files IPO paperwork, competitions against Lift for big offer

Uber Technologies Inc has submitted paperwork for a first public offer of three people with knowledge of the matter, taking…

Uber Technologies Inc has submitted paperwork for a first public offer of three people with knowledge of the matter, taking a step closer an important milestone for one of the most collapsed and controversial companies in Silicon Valley.

The riding company filed confidential paperwork on Thursday in lock with its less-American rival, Lyft Inc, who also announced Thursday that it had submitted an IPO, set the stage for one of the largest technology lists ever.

The simultaneous filing extends the elongated battle between Uber and Lyft, which, like hard competitors, has often rolled out identical services and matched each other’s awards.

Uber’s latest valuation was $ 76 billion and could be worth $ 120 billion in an IPO. Its listing next year would be the largest in what is expected to be a series of public debuts by highly rated Silicon Valley companies, including the lodging company Airbnb Airbnb and Slack.

Ubers debut will be a test of investor tolerance for legal and workplace controversies, involving Uber most of last year, and on Chief Executive Dara Khosrowshahi’s progress in turning about the company. Khosrowshahi took over more than a year ago.

Uber faces a deadline for publicity by September 30th, and a weekly filing indicates that the debut is earlier than that.

Uber and Lyft’s IPOs Testing Publicly

Uber lost $ 1 billion in the third quarter and struggles to slow growth, despite its gross $ 12.7 billion budget reflecting the company’s huge scale.

Wall Street Journal reported archiving earlier this Friday.

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