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Lyft and Uber file for IPOs, one day apart

kuhnertdm
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Sources:

https://www.wsj.com/articles/lyft-proceeds-with-ipo-plans-1544099168

https://venturebeat.com/2018/12/07/uber-confidentially-files-for-ipo-a-day-after-lyft/

 

Ride-sharing startup Lyft has filed for an IPO this past Thursday, and rival startup Uber has filed for one the very next day. An IPO (or "initial public offering"), is the action of taking a company public on the stock markets, widely opening up investment opportunities (and therefore revenue for the companies involved), but also holding the companies to stricter standards on revenue reporting, or other information that investors want to know.

 

Lyft is a younger company than Uber, and isn't as widespread. And that shows in the compared valuations of the companies:

 

Quote

In October, The Wall Street Journal reported that Lyft had picked underwriters for its offering. The firm’s valuation is expected to top the $15.1 billion it was valued at earlier this year.

 

Meanwhile, Uber, has received proposals from bankers that value it as high as $120 billion, the Journal reported. Companies often consider such proposals before hiring IPO underwriters.

 

However, Lyft seems to be making moves based on its lower levels of loss compared to Uber. They also may be riding on hopes that Uber's recent scandals will catch up to them:

 

Quote

Becoming a public company will bring a heightened level of investor scrutiny and exposure to Uber, which suffered a string of scandals when the company was led by co-founder and former CEO Travis Kalanick, who resigned last year.

 

The controversies included allegations of sexual harassment, obtaining the medical records of a woman raped by an Uber driver in India, a massive data breach, and federal investigations into issues including possibly paying bribes to officials and illicit software to evade regulators.

 

Uber and Lyft are joining project management tool startup Slack in intending to go public in early 2019. In addition, it's possible we may be seeing crowd-sourced accommodation startup Airbnb going public later in the year as well. We're getting to the point where all the startups that have been popping up in the last few years are now becoming successful enough to go public, and IMO this will be a good thing, as we're going to start seeing these companies held to stricter standards for how they manage their money, and how they treat their customers.

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Let's hope Uber can get their shit together so they don't get bitchslapped by the markets

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Hmm shares in companies who lose money faster than a bus load of gambling addicts in Vegas, I'll pass thanks. They're pinning their hopes on entirely autonomous cars, which are probably 15-20 years away at least, even further away in cities prone to snowfall. And when autonomous cars do arrive, Uber & Lyft will have have asses handed to them by a new company unconstrained by all that debt.

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Uber has some deep stacks into drone delivery and flying taxi development, they'd be a smart investment imo

 

Those could really take off

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1 hour ago, OrbitalBuzzsaw said:

Let's hope Uber can get bitchslapped by the markets so they get their shit together

FTFY

Don't ask to ask, just ask... please 🤨

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Sauron'stm Product Scores:

Spoiler

Just a list of my personal scores for some products, in no particular order, with brief comments. I just got the idea to do them so they aren't many for now :)

Don't take these as complete reviews or final truths - they are just my personal impressions on products I may or may not have used, summed up in a couple of sentences and a rough score. All scores take into account the unit's price and time of release, heavily so, therefore don't expect absolute performance to be reflected here.

 

-Lenovo Thinkpad X220 - [8/10]

Spoiler

A durable and reliable machine that is relatively lightweight, has all the hardware it needs to never feel sluggish and has a great IPS matte screen. Downsides are mostly due to its age, most notably the screen resolution of 1366x768 and usb 2.0 ports.

 

-Apple Macbook (2015) - [Garbage -/10]

Spoiler

From my perspective, this product has no redeeming factors given its price and the competition. It is underpowered, overpriced, impractical due to its single port and is made redundant even by Apple's own iPad pro line.

 

-OnePlus X - [7/10]

Spoiler

A good phone for the price. It does everything I (and most people) need without being sluggish and has no particularly bad flaws. The lack of recent software updates and relatively barebones feature kit (most notably the lack of 5GHz wifi, biometric sensors and backlight for the capacitive buttons) prevent it from being exceptional.

 

-Microsoft Surface Book 2 - [Garbage - -/10]

Spoiler

Overpriced and rushed, offers nothing notable compared to the competition, doesn't come with an adequate charger despite the premium price. Worse than the Macbook for not even offering the small plus sides of having macOS. Buy a Razer Blade if you want high performance in a (relatively) light package.

 

-Intel Core i7 2600/k - [9/10]

Spoiler

Quite possibly Intel's best product launch ever. It had all the bleeding edge features of the time, it came with a very significant performance improvement over its predecessor and it had a soldered heatspreader, allowing for efficient cooling and great overclocking. Even the "locked" version could be overclocked through the multiplier within (quite reasonable) limits.

 

-Apple iPad Pro - [5/10]

Spoiler

A pretty good product, sunk by its price (plus the extra cost of the physical keyboard and the pencil). Buy it if you don't mind the Apple tax and are looking for a very light office machine with an excellent digitizer. Particularly good for rich students. Bad for cheap tinkerers like myself.

 

 

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Uber is pretty much the same as a Taxi at peak times, seeing as thats when I usually need one I just get a Taxi, with the things you hear on the news too, its probably safer. 

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A $500M lawsuit must be immaterial to such a float for Uber. 

Grammar and spelling is not indicative of intelligence/knowledge.  Not having the same opinion does not always mean lack of understanding.  

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9 hours ago, Monkey Dust said:

Hmm shares in companies who lose money faster than a bus load of gambling addicts in Vegas

I was hoping you'd say Crypto-Currency mining, but a Vegas reference is so passe.

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Maybe once we see some good # of autonomous cars on the road then the stock might be piping hot. As of now i don't know 

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On 12/8/2018 at 11:43 AM, OrbitalBuzzsaw said:

Let's hope Uber can get their shit together so they don't get bitchslapped by the markets

On 12/8/2018 at 1:12 PM, Sauron said:
On 12/8/2018 at 11:43 AM, OrbitalBuzzsaw said:

Let's hope Uber can get bitchslapped by the markets so they get their shit together

FTFY

On 12/8/2018 at 11:43 AM, OrbitalBuzzsaw said:

Let's hope Uber gets bitchslapped by the markets and dies.

FTFY

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Yes both the ride-hailing companies filed the IPO process back to back. Uber IPO formalities took place after its smaller U.S. rival, Lyft announced to go public. Both the companies are making step closer to a achieve a key landmark in Silicon Valley.

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