Uber plans to kick off IPO in April

Uber in talks with investors to sell stake of its autonomous car unit

Uber plans to kick off IPO in April

Since Uber still has weeks of preparation before releasing third IPO, Lyft has a great shot at issuing Lyft IPO before Uber gets a chance to do so, which will help the company avoid being overshadowed by Uber that undoubtedly has more operational force in oppose to Lyft.

Softbank's Vision Fund is in late stage talks to invest $US1 billion into the ride-hailing giant's self-driving auto unit, according to a person familiar with the matter. The investment group led by SoftBank, Uber's largest shareholder, would include other backers, and possibly at least one automaker, though their identities couldn't be learned.

The timing for Uber's IPO means it will most likely hit public markets soon after Lyft completes its own public offering, which is expected to happen by the end of March, people familiar with the matter said. The investment would value the unit at somewhere between $5bn and $10bn.

Uber has recently been valued at United States dollars 76 billion in the private market and is seeking a valuation as high as USD 120 billion.

The proposed investment was earlier reported by The Wall Street Journal.

Following the death of a pedestrian in Arizona previous year by Uber's one of self-driving cars, the developing technology came under a greater inspection. But its autonomous unit, formed in 2014, loses between $100 million and $200 million each quarter.

The ride-hailing company has yet to publicly file financial paperwork for its IPO, but recently said it lost an adjusted US$1.8 billion past year. A $1 billion infusion could ease worries about how costly it is to develop autonomous cars.

Uber, which a year ago lost about $3.3 billion, is betting on a transition to self-driving cars to eliminate the need to pay drivers. Japan's SoftBank is now their largest investor. In mid-2018, the firm invested $2.25 billion in GM Cruise Holdings, a division of General Motors.

A Toyota spokesman told Reuters that it "constantly reviews and considers various options for investment" but did not confirm the talks.

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