Uber plans to kick off IPO in April

Uber plans to kick off IPO in April

SoftBank Group and Toyota Motor are leading a group of investors in talks to invest $1 billion or more into the unit.

Uber is in "late stage talks" with SoftBank about a $US1 billion or more investment into its self-driving auto unit, a source familliar with the matter told Business Insider on Wednesday.

Uber and SoftBank declined to comment to Reuters, while Toyota said it didn't have anything to announce.

The Journal described the "late-stage" talks as fluid, with the possibility a deal might not be reached.

Uber Technologies Inc is planning to file for an initial public offering in April, according to people familiar with the matter cited by Reuters.

To fight against losing more money, Lyft is said to be preparing a report that would hopefully convince investors that Lyft won't stay in the red zone for too long, while investors still holding interest in Lyft and Uber are focusing on the future potential of these companies.

During the same month, the company's Vision Fund also allocated $1 billion to freight transportation startup Flexport, casting a net around not just self-driving cars but all innovation in software-powered transportation.

Beto O'Rourke will seek 2020 Democratic presidential nomination
O'Rourke, a 46-year-old former three-term USA representative from West Texas, made the announcement online. Beto O'Rourke, the Texan who gained a national following with his long-shot election battle against U.S.

In addition to the financial liability, the autonomous-car effort has had a tumultuous history.

Uber has been in a race with Google-owned Waymo and a host of other companies, including major automakers, to develop self-driving vehicles.

Uber's revenue a year ago was $11.3 billion, while its gross bookings from rides were $50 billion.

Uber will have the challenge of explaining and selling to investors a business that is more complex and less focused than Lyft's.

It's a somewhat curious bet for SoftBank. The former previously invested in Uber and in 2018 made a $2.25 billion investment in General Motors' self-driving auto division.

The nascent technology came under greater scrutiny last year after one of Uber's self-driving cars struck and killed a pedestrian in Arizona last year.

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