Uber reveals finances as it gears up for IPO

Uber is providing a look under the hood of its business in the lead-up to its hotly anticipated debut on the stock market.

Documents released Thursday offered the most detailed view of the world's largest ride-hailing service since its inception a decade ago.

The unveiling comes four months after Uber took its first step toward its initial public offering with a confidential filing.

The breakdown shows Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses since its inception.

Uber's revenue totaled $11.3 billion in 2018, a 42 per cent increase from $7.9 billion in 2017.

Major shareholders

Travis Kalanick, the former CEO who resigned in 2017 under pressure from the board, is one of Uber's largest shareholders, owning nearly 9 per centof the ride-hailing company's stock.

Alphabet, the parent company of Google, owns 5 per cent of the company, even as it competes with Uber on self-driving technology. Alphabet also owns roughly 5 per cent of Uber rival Lyft's stock.

Cayman, a subsidiary of Softbank, is Uber's largest shareholder with 16 per cent. Yasir Al-Rumayyan, the managing director of Saudi Arabia's public investment fund, is listed as holding 5.4 per cent.