Uber is expected to file paperwork as soon as Thursday in what is likely to be one of the biggest public offerings ever for a technology company.
The IPO caps off Uber’s rapid and very public effort to overhaul its internal culture and move past a long list of scandals that upended the company.
Uber is still facing problems: The company lost $1.8 billion in 2018, an unprecedented sum for a company about to go public.
Lyft, its chief US rival, gained market share amid Uber’s stumbles. But Lyft shares dropped almost 11% on Wednesday following media reports about the Uber IPO and are now trading more than 16% below their IPO price.