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Illustration: Aïda Amer/Axios

Uber on Thursday will disclose plans to raise $10 billion in its IPO, as first reported by Reuters. This would set up an investor road-show for the week of April 29, and a listing in early May.

Why it matters: The S-1 filing should provide us with a much more complete understanding of Uber's finances, which to date have been selectively self-disclosed.

Where it ranks: At $10 billion, Uber's IPO would be the largest so far in 2019 and among the 10 largest of all time.

Price talk: Bankers reportedly pitched Uber last year on a $120 billion initial public valuation, compared to its last private mark of $72 billion, but word is that expectations have been scaled back below $100 billion (possibly due, in part, to Lyft's soft aftermarket performance).

Digging deeper: "Contribution margins, a measure that’s meant to show which businesses can operate profitably, will be one tool provided for digging through its spreadsheets. Uber calculates its contribution margin by tacking on more costs than Lyft does, according to people with knowledge of the matter. Uber’s more conservative metric may give investors a better sense of its business, even if it makes direct comparisons with Lyft more difficult." — Eric Newcomer & Olivia Zaleski, Bloomberg

Go deeper

Texas AG sues Biden administration over deportation freeze

Texas Attorney General Kenneth Paxton speaks to members of the media in front of the U.S. Supreme Court
in 2016. Photo: Alex Wong/Getty Images

Texas Attorney General Ken Paxton is suing the Biden administration in federal district court over its 100-day freeze on deporting unauthorized immigrants, and asking for a temporary restraining order.

Between the lines: The freeze went into effect Friday, temporarily halting most immigration enforcement in the U.S. In the lawsuit, Paxton claims the move "violates the U.S. Constitution, federal immigration and administrative law, and a contractual agreement between Texas" and the Department of Homeland Security.

Dan Primack, author of Pro Rata
43 mins ago - Podcasts

Carbon Health's CEO on unsticking the vaccine bottleneck

President Biden has said that getting Americans vaccinated for COVID-19 is his administration’s top priority given an initial rollout plagued by organizational, logistical and technical glitches.

Axios Re:Cap digs into the bottlenecks and how to unclog them with Carbon Health chief executive Eren Bali, whose company recently began helping to manage vaccinations in Los Angeles.