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Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Ride-Hailing Giant Uber Posts $5 Billion Loss as Growth Slows

Uber reported a Q2 loss of $5.2 billion on Thursday as growth of its core business slows. Uber reported that its revenue growth slowed to 14%, and the company’s core ride-hailing business grew revenue 2% to $2.3 billion.

FutureCar Staff 2019-08-08 15:10 PT

Electric Bus Maker Proterra Hires Banks to Prepare for IPO

Electric Bus Maker Proterra Hires Banks to Prepare for IPO

California-based electric bus maker Proterra might be next in joining the growing list of companies preparing for an initial public offering. According to Reuters, the company has hired investment banks to prepare for an initial public offering, people familiar with the matter said.

FutureCar Staff 2019-07-03 12:00 PT

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Off to a Rocky Start in Stock Market Debut as Stock Slips 7%

Uber Technologies Inc's stock opened Friday down 6.7% in its first day of trading on the New York Stock Exchange. Uber’s listing today was the ninth-largest U.S. IPO of all time.

Eric Walz2019-05-10 12:12 PT

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Lyft’s Falling Stock Price Ahead of Uber’s IPO Shows Investor Concerns About the Ride-Hailing Model Becoming Profitable

Ride-hailing giant Uber will list its shares tomorrow on the New York Stock Exchange in one of the most anticipated IPO’s in recent history. However, on the eve of Uber’s IPO, its chief rival Lyft is sitting on the sidelines as its stock falls to the lowest level since its own IPO in March.

Eric Walz2019-05-08 19:01 PT

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Uber Sets its IPO Terms, is Aiming for a Valuation up to $91.5 Billion

Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially becoming one of the largest U.S. IPO’s since Chinese e-commerce giant Alibaba went public in 2014 and raised $25 billion.

FutureCar Staff 2019-04-26 13:36 PT

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Uber Looking to Sell a Minority Stake in its Autonomous Vehicle Unit

Ride-hailing company Uber is preparing to sign a deal to sell a minority stake in its autonomous vehicle unit Uber ATG ahead of next month’s IPO. The deal would allow Uber to retain operational control of ATG while reducing its cash burden.

Eric Walz2019-04-17 17:14 PT

Lyft Stock Slips Below its IPO Price After Receiving its First Sell Rating

Lyft Stock Slips Below its IPO Price After Receiving its First Sell Rating

Lyft received its first negative review from an analyst who is skeptical that consumers will give up personal car ownership in favor of relying on ride-hailing services. Lyft’s shares fell as much as 4.2 percent to $66.10 on Tuesday, their second straight session of losses after $72 initial public offer on Friday.

FutureCar Staff 2019-04-02 13:00 PT

Lyft Valued $24.3 Billion Ahead of Tomorrow’s IPO, Becoming the First Ride-Hailing Company to Go Public

Lyft Valued $24.3 Billion Ahead of Tomorrow’s IPO, Becoming the First Ride-Hailing Company to Go Public

Lyft Inc. will become the first ride-hailing company to go public. Ahead of its Friday IPO, Lyft is reportedly pricing its stock at $72 per share, according to the New York Times. A price of $72 per share would value the ride-hailing firm at $24.3 billion.

FutureCar Staff 2019-03-28 18:44 PT

Chinese EV Startup NIO Announces its 2018 Earnings, Loses $1.4 Billion Last Year

Chinese EV Startup NIO Announces its 2018 Earnings, Loses $1.4 Billion Last Year

Electric automaker NIO released it fourth quarter earnings today reporting mixed results, including a $1.4 billion net loss in 2018.

FutureCar Staff 2019-03-05 17:39 PT

Lyft Files its IPO, Will Become the First Ride-Hailing Company to Go Public

Lyft Files its IPO, Will Become the First Ride-Hailing Company to Go Public

Lyft Inc. filed for a U.S. initial public offering (IPO) today, becoming the first ride-hailing company to go public The IPO filing has also lifted the lid on Lyft’s financial picture, giving investors a first look at the company’s financial information.

FutureCar Staff 2019-03-01 14:39 PT

Electric Automaker NIO Launches $650 Million Convertible Bond After Lackluster IPO

Electric Automaker NIO Launches $650 Million Convertible Bond After Lackluster IPO

Chinese electric carmaker NIO, often referred to as the “Tesla of China” is looking to raise capital again four months after its New York IPO. The startup electric automaker launched a $650 million five-year convertible bond on Wednesday to fund its expansion.

FutureCar Staff 2019-01-30 13:05 PT

Ride-Hailing Startup Lyft Files Confidential Paperwork for a 2019 IPO

Ride-Hailing Startup Lyft Files Confidential Paperwork for a 2019 IPO

The second biggest U.S. ride-hailing startup Lyft Inc. has filed confidential paperwork for an IPO, indicating its plans to go public in 2019. Lyft would be the first company to allow investors to buy into the rapidly growing ride-hailing industry.

Eric Walz2018-12-06 12:11 PT

China’s Tesla Rival NIO Raises $1 Billion in its U.S. IPO, Falls Short of Expectations

China’s Tesla Rival NIO Raises $1 Billion in its U.S. IPO, Falls Short of Expectations

Chinese electric automaker NIO debuted on the New York Stock Exchange this morning, raising $1 billion with its U.S. IPO, much lower than NIO’s earlier target of $2 billion to $3 billion previously reported by The Wall Street Journal. NIO’s target would have been the largest U.S. listing to date by any Chinese automaker.

Eric Walz2018-09-12 11:22 PT

Volvo Cars Cancels its Planned IPO Amid Ongoing Trade Tensions

Volvo Cars Cancels its Planned IPO Amid Ongoing Trade Tensions

Volvo Cars has postponed its planned IPO, citing ongoing trade tensions and a decline in automotive stocks. The Swedish carmaker, which is owned by China’s Geely, hoped to list its shares by the end of the year.

FutureCar Staff 2018-09-10 12:22 PT

Electric Automaker NIO Launches $1.3 Billion IPO

Electric Automaker NIO Launches $1.3 Billion IPO

Chinese electric automaker NIO launched a U.S. stock sale that could raise up to $1.32 billion. NIO is looking to top Tesla’s Model X in China with its new electric SUV the ES8.

Eric Walz2018-08-29 12:51 PT

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

Uber Plans to Shift Focus to Electric Scooters & E-Bikes for Short City Trips

With Uber vehicles clogging city streets and the company itself being blamed for increasing traffic in some cities, the company is taking action. Uber is planning an emphasis on electric scooter and e-bikes instead of cars in cities, according to Uber CEO Dara Khosrowshahi.

Eric Walz2018-08-27 12:26 PT

NIO Files $1.8 Billion IPO, the Largest of Any Chinese Automaker

NIO Files $1.8 Billion IPO, the Largest of Any Chinese Automaker

Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the largest U.S. listing to date by a Chinese automaker.

Eric Walz2018-08-15 13:08 PT

Silicon Valley Lidar Maker Quanergy Systems Puts its Planned IPO on Hold

Silicon Valley Lidar Maker Quanergy Systems Puts its Planned IPO on Hold

A new report suggests trouble is brewing at silicon valley startup Quanergy systems Inc., a company developing solid state lidar for autonomous cars, Bloomberg has reported. Quanergy was one of the first self-driving tech unicorns—reaching a $1.5 billion valuation in 2016.

Jeremy Carlton2018-08-13 16:10 PT

Volvo Cars Owner Zhejiang Geely Selects Major U.S. Advisors to Explore IPO

Volvo Cars Owner Zhejiang Geely Selects Major U.S. Advisors to Explore IPO

​Zhejiang Geely Holding Group Co., owner of Sweden-based Volvo Cars AB, has selected Citigroup Inc., Goldman Sachs Group and Morgan Stanley to advise on an initial public offering for the carmaker this year, according to people with knowledge of the matter, Bloomberg has reported.

Paul Young2018-05-10 12:59 PT