In brief: Uber says it may not be profitable in IPO filing

• Uber’s growth is slowing and it may never make a profit, the company said on Thursday in its initial public offering filing.
• The company also indicated that it expects its operating expenses to “increase significantly in the foreseeable future.”
• Uber did not specify the size of the IPO but it set a placeholder amount of US$1 billion.
• It was reported that Uber plans to sell around US$10 billion worth of stock in its IPO, which could potentially be one of the biggest since that of Chinese ecommerce giant Alibaba in 2014.

Source: Reuters