Image: Uber
Image: Uber

Uber has potential investors that it “may not achieve profitability” as it prepares to list its shares on the stock market.

The ride-booking app will float on the New York Stock Exchange in a move that is expected to value it at around $100bn (£76.5bn). However, Uber reported a $3bn loss for the last financial year, despite sales rising to $11.2bn.

Chief executive Dara Khosrowshahi said: “Over the past 18 months, we have improved our governance and board oversight; built a stronger and more cohesive management team; and made the changes necessary to ensure our company culture rewards teamwork and encourages employees to commit for the long term.”

Mr Khosrowshahi took over from founder¬†Travis Kalanick in 2017 after the company struggled to reform its image following a string of controversial scandals, including allegations of sexual abuse made against its drivers, allegations of a ‘toxic’ work environment and the rights of workers.