Uber is trying to undergo similar proceedings like rival Lyft, which had registered its securities at SEC on March 1, 2019. Uber was incepted back in 2009, has a total value of $76 billion. At present Uber has been charged by 60 countries that it has caused disruption in its taxi industry. The American and UK governments have even charged the company with legal action as it has stated its chauffeurs as self-employed contractors.
Back in 2017, Uber also had to undergo several charges from around the globe. One of the female employees had reported an incident of sexual harassment, spying on government’s data etc. During that year, Uber had also forced Travis Kalanick to resign from the post of chief executive. Those controversies had given chance to Lyft to acquire considerable market shares.
The taxi service Lyft was incepted in 2012 and was considered as a safe ride and was used in the areas where driver’s and user’s Facebook profiles are used for authentication purpose. At present Lyft is ranked as number 2 in taxi service and has a total estimated capital of $15 billion. Though Lyft also offers bikes as well as taxis service, it is operating only in America and Canada.
Though Alphabet and Alibaba are two great investors of Lyft, some analysts warn that it is not a good prospect. Uber, as well as Lyft, have started to invest a heavy amount in autonomous cars though they both are suffering a great loss.
Speaking to the press Shira Ovide said that Lyft has shown fast growth since 2012 which will influence an IPO investor. She further said that the losses suffered by Lyft have degraded by a considerable rate. She also advised investors to invest their money after thorough consideration of Uber and Lyft, Ovide said that investors should only invest in either of the companies after they get the performance report of the two companies.