, Columnist
Uber Is Huge, Sprawling and Still Entirely Unproven
Investors are going to have a tough time figuring out how to value the company.
Rides, meals, scooters and bikes, oh my.
Photographer: Brent Lewin/Bloomberg
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Good luck to potential investors in Uber Technologies Inc.’s coming initial public offering. Multiple advanced degrees might be needed to figure the company out.
As expected, Uber on Thursday dropped its initial offering document to pitch its business to investors, and befitting the company’s size and complexity, it was a doozy. It is 285 pages, plus 83 more of financial statements. Facebook Inc.’s initial IPO document in 2012 was 150 pages plus 29 in additional financial statements. (The document for Uber’s small rival Lyft Inc. was 220 pages plus 44 pages of financials.)