Uber Files for IPO

As expected, Uber Technologies Inc. has filed with the U.S. Securities and Exchange Commission for an initial public offering.

The ride-hailing service will begin presentations to major investors at the end of April. The company is likely to begin trading shares in early May on the New York Stock Exchange and will use the UBER ticker name.

Uber didn’t indicate the size of its IPO, setting a placeholder amount of $1 billion. Earlier reports indicate the offering will be worth about $100 billion.

Last year the company lost $3.3 billion on sales of $11.3 billion. Gross bookings from rides grew to $50 billion.