It also illuminates the task Uber executives have yet to tackle: communicating the story of its varied businesses to experienced fund managers and mom-and-pop investors who are considering buying stock in the company. Uber and Lyft both submitted their confidential IPO filings at the same time in December, according to a person familiar with the matter. But Lyft’s simpler business enabled it to fast track its process, and it went public at the end of March. Regulators also likely scrutinized how Uber approaches segment reporting—often a sticky issue for companies with a mix of business lines and global reach. The company’s food-delivery unit, Uber Eats, accounts for a growing portion of its revenue, according to a person familiar with the matter.

Source: Wall Street Journal April 10, 2019 22:48 UTC