It has become big news that Uber Technologies Inc. has revised its S1 form on April 26 which is somehow ahead of its Initial Public Offering. It has also been highlighted that Uber has largely removed references where it was mentioned that Uber is competing with public transport vehicles.
The move of eliminating the links and references of public competition has triggered criticism in the experts of public transit. They are relating this move by Uber to some planned strategy in the future. The filing which was initially released by Uber on April 11, mentioned the fact that Uber thinks of public transport as a tough competition to its business and its progress will largely depend on the fact that how smoothly it defeats it.
Some parts of the initial document by Uber referred the public transportation as its market to address but such reference was highly talked about by the experts of public transport. They discussed that such a strategy would create a bottleneck in many cities.
In the updated S1, Uber told about the pricing for its IPO which will vary between $44 and $50 a share. The references which were earlier present in the initial filing about competition with public transport were absent from many places in a 300-plus pages file. The changed document even mentioned unexpected appreciations of public transport.
It was mentioned that public transport can be a low cost and quick mode of communication in many cities. The revised filing even identifies the public transportation market worth $1 trillion. Uber even tried to showcase the fact that it finds that market as a chance to work together with public transport.
Uber also added that association with public transport with journey planning and ticketing can help them speak to the public transport miles worth 4.4 trillion.