A new ride-hailing service called Uber has gone public, with investors hoping it will provide a boost to the ridesharing business as consumers seek alternatives to conventional car companies.
Uber has raised $1.5 billion in venture funding, and has about $4 billion of cash on hand, according to a person familiar with the matter.
The firm has also been in talks with Alphabet Inc’s Google, the person said.
Uber said Monday it was planning to go public in 2019, although it has not specified a date for when the company would be available for business.
The company said it has already raised about $6 billion from investors and is currently seeking another $2 billion in funding, which could be forthcoming.
Uber raised $15 billion in its first year of operation, but investors have been skeptical about the company’s future.
Investors, who include Google, Facebook Inc and Uber’s biggest investor, Sequoia Capital, have been trying to lure other ride-sharing companies into their fold, but have struggled.
The ride-share industry has struggled with its own growth and the rise of the self-driving car.
Uber was the first of these companies to enter the market.
The San Francisco-based firm is also the subject of a regulatory probe by the U.S. Securities and Exchange Commission, and a criminal investigation by the New York Police Department, Reuters reported in February.
Uber declined to comment.