Uber Technologies filed its initial public offering (IPO) registration with the Securities and Exchange Commission (SEC) on Thursday.
The largest ride-sharing company is trading its shares on the New York Stock Exchange (NYSE) under the ticker “UBER.” Its IPO filing comes almost two weeks after Lyft’s trading debut.
A recent report indicated that Uber is seeking a valuation of between $90 billion and $100 billion in its public offering. It is expected to provide a price range for its shares later this month and to go public in May.
One-time cash reward for Uber drivers
In its Form S-1 filing, Uber disclosed its intention to reward certain drivers that contributed to its success. The ride-sharing company is paying a one-time cash reward to drivers who completed a certain number of trips by April 7, 2019. The total amount of its one-time cash driver appreciation reward to more than 1.1 million drivers worldwide is approximately $300 million.
In the United States, Uber will give $100 for drivers who completed 2,500 trips and $500 for those who 5,000 trips. Drivers who completed 10,000 trips will receive $1,000 and those who completed 20,000 trips will get $10,000.
