Uber files for its IPO and faces the past

FILE - In this March 15, 2017, file photo, a sign marks a pick up point for the Uber car service at LaGuardia Airport in New York. Ride-hailing giant Uber has filed confidential preliminary paperwork for selling stock to the public. That's according to a report late Friday, Dec. 7, 2018 in the Wall Street Journal. (AP Photo/Seth Wenig, File)

Ten years after the company was founded, Uber is finally ready to go public. The company revealed its S-1 filing for an IPO this afternoon, and as such opened up more information to everyone about its finances and concerns going forward.

Going through the document, a lot of those concerns involve the past, particularly in 2017 when a series of revelations about its corporate culture, treatment of drivers and passengers, and other misdeeds resulted in the exit of CEO Brian Kalanick.

According to Uber, it has some 91 million monthly active users who’ve either taken a ride or received an Uber Eats delivery. That number came from Q4 of 2018, and is up 35 percent from the previous year, with some 3.9 million drivers, and 1.5 billion trips in the quarter.

Uber also gave some insight on its self-driving car plans, saying “Along the way to a potential future autonomous vehicle world, we believe that there will be a long period of hybrid autonomy, in which autonomous vehicles will be deployed gradually against specific use cases while Drivers continue to serve most consumer demand.”

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