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Uber and Lyft are both charging toward potential IPOs next year. [New York Times]

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304 Rider Driver Driver Guru
 Posted 5 years, 1 month ago

Uber could be valued at $120 billion in an IPO as soon as early 2019 — that’s nearly double the ride-hailing company’s valuation in a fundraising round two months ago, and more than General Motors, Ford and Fiat Chrysler are worth combined. And rival Lyft has hired JP Morgan to lead its 2019 IPO, which could value the company at more than $15 billion.

New York times article her: https://www.nytimes.com/2018/10/16/technology/uber-lyft-ipo.html


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    1602 Rider Driver
     5 years ago

    When you consider that this company has never turned a profit from day one, how is it possible to have this value? 

    Normally a company with this spreadsheet would be talking about bankruptcy in that they spend all the additional investment dollars to help cover their losses with red ink continuing to flow and no plans to change any time soon (that we know).

    A general refusal to increase pricing (although the guaranteed pricing scheme has clearly increased their percentage of profits) and still cutting pricing in some markets - if only we knew their long term plan, perhaps it would make more sense.

    Are self driving cars the answer?  I think not, or i can guarantee you it won't be the lovely new cars they're currently using as test cars (such as Volvo's)  No possible way these rates could support "those" vehicles even without the cost of a driver IMO.

    The one thing i hope the self driving cars will demonstrate to Uber is just how poorly they're paying their current drivers, and thus the reason for the 6 month career of the average driver. 

    Show Hide  2 Replies
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       4 years ago

      Yeah, that's the thing about robot drivers.  They can work 24/7 and never complain about being paid or tipped.

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        330 Rider
         4 years ago

        Right, and they get mad and kill us all...some day.

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    50 Rider
     5 years ago

    I think Lyft will IPO first though!