Uber was bogged down with sexism and harassment charges, investigations into the culture that prevails in the work place and exodus of its C-suite, nearly two years back. Now Uber is set to go for its debut in Wall Street. The paper works are to be filed this Thursday, which would announce the highest public offering ever made by a company for technology. This offering is set to put an end to all the questions that have been asked regarding the work culture and the never-ending scandals.
Uber in the year 2018 has lost $1.8 billion, which turns out to be a pretty hefty fund for a company that has Wall Street plans. The biggest rival of Uber, Lyft had gained a considerable portion of the market as there have been setbacks for Uber along the way. Both the companies are undergoing tremendous scrutiny regarding the security policies that they employ to protect their passengers.
Lyft, which went public, last month, faced a set back as this event triggered a fall in its IPO. Their shares hit an all-time low, as there has been a prediction of a unicorn stampede. This is a Wall Street jargon that is used to represent companies that are estimated to be more than $1 billion, set to go public.
It was previously predicted that Uber was almost unstoppable. The company moved ahead with its tricks and no prisoners’ attitude for its expansion globally. Uber turned out to be the biggest start-up in the silicon industry as it completely shook the taxi Industry not just in US alone but at a global scale. Even after overcoming most of its barriers the safety still remains as one of the most major problems for the company. Although Uber and Lyft stand as the biggest rivals in this industry, if the stock prices of Lyft continue to fall in this manner, this could be the golden chance for Uber to rise in the stock Market.