Uber files for IPO

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Ride-sharing app Uber on Thursday quietly filed paperwork for an initial public offering (IPO), The Wall Street Journal and Reuters reported Friday evening, citing people familiar with the situation.

Rival app Lyft announced its own IPO filing Thursday, and the two companies are expected to race each other to the investment market. Both have attracted billions in venture capital support, though Uber's haul of about $20 billion is four times larger than Lyft's backing. Uber also controls a larger portion of the ride share market.

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Bonnie Kristian
Bonnie Kristian

Bonnie Kristian was a deputy editor and acting editor-in-chief of TheWeek.com. She is a columnist at Christianity Today and author of Untrustworthy: The Knowledge Crisis Breaking Our Brains, Polluting Our Politics, and Corrupting Christian Community (forthcoming 2022) and A Flexible Faith: Rethinking What It Means to Follow Jesus Today (2018). Her writing has also appeared at Time Magazine, CNN, USA Today, Newsweek, the Los Angeles Times, and The American Conservative, among other outlets.