Equity Shot: A deep dive into the Uber S-1

 In Benchmark, carsharing, chief executive officer, commuting, economy, Equity podcast, finance, initial public offering, Kate Clark, Softbank, SoftBank Group, Softbank Vision Fund, Startups, TC, TechCrunch, transport, Transportation, Travis Kalanick, Uber, Venture Capital

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

It’s time for another Equity Shot, a quick-take episode centered around a breaking news event. This time, as you already guessed, Kate Clark and I sat down to dig into the Uber S-1. It’s a huge, complex document, but we did our best to summarize what’s inside.

First, we talked through yearly results, looking back a half-decade into Uber’s revenue growth. In the filing, Uber reported 2018 revenues of $11.27 billion, net income of $997 million and adjusted EBITDA losses of $1.85 million. We highlighted those numbers, talked about operating losses and the company’s gyrating net results that included the positive impacts of various divestitures.

Yes, this S-1 required a bit more unpacking than most. We apologize for the frantic scrolling, we were pouring through the document live and we were a bit excited. This is an IPO that’s been talked about for years and will be easily one of the largest floats of all time.

Anyway, an S-1 brings insights to more than just a company’s financials, so we spent time highlighting key stakeholders, or, in other words, the people are are going to get really really really rich off Uber’s IPO. That includes Uber co-founder and chief executive officer Travis Kalanick, famous venture capital firms like the SoftBank Vision Fund and Benchmark, and more.

The IPO, remember, is expected to sell $10 billion in stock (primary and secondary) and value the company at $100 billion or more.

If 30 minutes digging through the S-1 wasn’t enough for you, don’t fret, we’ll be following the Uber IPO for weeks — probably months — to come.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple PodcastsOvercast, Pocket Casts, Downcast and all the casts.

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