California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


California  + Retail  | 

Uber Charts Next Path, Files IPO

In what could be one the largest tech stock listings ever, Uber Technologies, Inc. filed for an initial public offering (IPO) with the U.S. SEC. The San Francisco-based ridesharing company reportedly plans to sell roughly $10 billion worth of stock, which would bring its estimated valuation to between $90 billion and $100 billion.

Uber counts 91 million users on its various platforms, from ride-hailing, restaurant deliveries and freight. The company is in more than 700 cities, fulfills 14 million trips each day and has completed more than 10 billion trips since it began picking people up in 2012. And, it sees more opportunity for growth.

Uber CEO Dara Khosrowshahi wrote in a letter in the IPO filing, “Today, Uber accounts for less than one percent of all miles driven globally. Just a small percentage of people in countries where Uber is available have ever used our services. And we are still barely scratching the surface when it comes to huge industries like food and logistics, and how the future of urban mobility will reshape cities for the better.”

One of the growth areas may be in CRE. This week Uber launched a voucher program that lets businesses, such as malls, retailers and restaurants, pay for customers rides. High-end shopping center operators recognize the importance of providing a white-glove guest experience, and retailers have also started to incorporate transportation into their overall customer service strategy to make it easier to visit a store.

Following a roadshow later this month, Uber expects to price its IPO and commence NYSE trading in early May. Last year, Uber reported revenue of $11.3 billion, with gross bookings from rides reaching $50 billion, though the company lost $3.3 billion.

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Read more at ReutersRead more at Uber’s IPO ProspectusConnect With Uber’s Khosrowshahi

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.