Ride-hailing service Uber is launching its IPO and hopes to list on the New York Stock Exchange on May 10. If it succeeds in raising its targeted $10 billion, this would be the third largest tech IPO ever, after Alibaba ($21.8 billion) and Facebook ($16 billion). In December, it settled, for an undisclosed sum, a complaint brought by women who said they were raped or assaulted by Uber drivers. If Uber has to one day treat its drivers as employees (it currently uses 3.9 million drivers in 69 countries), its entire business model will implode. But Uber is still in major investment mode in both these services to grow market share, rather than bother about profit.

Source: Mint April 19, 2019 09:33 UTC