Uber, which was founded in 2009, has completed a total of over 10 billion rides and has expanded to more than 700 cities in over 60 countries.
Nevertheless, Glynn sees Lyft becoming profitable in 2023.
Kalanick, 42, and Camp, 40, already rank among the world's 500 richest people and previously sold some of their stakes, with the ex-CEO unloading about $1.4 billion of stock early past year to a group of new investors led by SoftBank Group Corp.
Uber is also expanding in other markets such as freight while offering other ways to get around with shared scooters and bikes.
And as is the case for Lyft, it remains unclear whether there is lasting demand for Uber's two main products - on-demand rides and restaurant meal deliveries through Uber Eats - and whether any of it is financially viable.More news: BET, Tidal To Air Nipsey Hussle Memorial Live And Commercial Free
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Uber seems to have some better cost economics than Lyft, which operates only in North America and has about one-fifth of Uber's annual revenue.
As expected, Uber on Thursday dropped its initial offering document to pitch its business to investors, and befitting the company's size and complexity, it was a doozy.
Uber could finally start going public on Thursday-and the company hopes to achieve one of the biggest tech IPOs in history.
Uber revealed in the filing it could have to pay a license fee to Waymo or face a substantial delay to the development of its self-driving technology if the initial assessment of its technology by an independent expert is confirmed. It reportedly plans to sell about $10 billion worth of stock, which would make it one of the largest USA tech IPOs ever coming in at an anticipated $120 billion. It said its revenue previous year rose 42 per cent to reach $US11.3 billion ($NZ16.8b), and it achieved a $US1b profit, derived from selling some of its overseas businesses. Uber declined to comment for the report which cited unnamed people familiar with the matter.
The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up almost $8 billion in losses since its inception. Its fast-growing food delivery business, which spans 500 cities globally, doubled its revenue to $757 million in 2018 from $367 million in 2017.
Waymo, in its lawsuit, had said one of its former engineers who became chief of Uber's self-driving vehicle project took with him thousands of confidential documents. This company - already huge and built with billions of dollars in investors' cash - has no choice but to keep investing and to jump-start growth in its sprawling empire.