Ober published a prospectus: grows by 40% per year, alphabets holds 5%
The company plans to issue shares in the next few weeks at a value of $ 100-120 billion • In the fourth quarter the company’s growth stopped, compared to the previous quarter
The travel co-operation company, Auber, published its public prospectus last night ahead of the offering of the unicorn with the highest value in the world. According to many reports, the company is targeting $ 120 billion, but the Wall Street Journal reported this week that the value could be $ 100 billion. The private market is valued at $ 72 billion. The IPO is expected to take place in the coming weeks, after the share of Ober, the competitor of Ober, started trading two weeks ago.
The company posted revenue of $ 11.2 billion in 2018, a 42% jump in a year and 200% within two years. The travel-sharing activity generated revenues of $ 9.2 billion, an increase of 33% within a year, and 160% in two years. Revenue from Uber Eats totaled $ 1.5 billion, compared to $ 600 million in 2017 and $ 100 million in 2016. A weak point in Ober’s results is in fourth-quarter revenue, where Ober was unable to grow compared to the third quarter ($ 2.9 billion). For the sake of comparison, in the fourth quarter of 2017, Auber grew by 13.5% compared to the previous quarter.
Over the years, Over has raised close to $ 20 billion, some in debt. The company was not profitable and its operating loss was $ 3 billion, compared to $ 4 billion in the parallel quarter. Where is the money going? The company’s marketing and sales expenses totaled $ 3.1 billion in 2018, 28% of revenues. However, the sales and marketing system becomes more efficient, after which in 2014 these expenses accounted for 32% of revenues, and in 2016 – 41%. Over Travis, founder and former CEO of the company, holds 8.6% of the company, according to the prospectus, and Travis has left the company following evidence of improper conduct in the company, except for Travis, Benchmark Capital has 11% of the company and Softbank has 16 Another interesting investment is Alphabit, Google’s parent company, which holds 5.3% of the company.