Uber CEO Dara Khosrowshahi. Photo: Justin Sullivan/Getty Images.
Uber filed paperwork confidentially this week for its initial public offering, The Wall Street Journal reports.
Why it matters: Private financing has outpaced IPO fundraising in tech since the '90s, per a previous Axios report. Now, both Uber and Lyft's IPOs are expected to be the largest among the many companies in Silicon Valley that are aiming for 2019 stock market debuts.
Our thought bubble: Axios’ Dan Primack explains that the move isn’t a surprise, as Uber has been talking about a 2019 IPO for at least a year. Don’t fall prey to the “Uber vs Lyft racing each other to go public” narrative.