Start your engines: Uber is racing with rival Lyft to become the first ride-hailing app to trade as a publicly traded stock on Wall Street.
Uber, according to The Wall Street Journal, filed a confidential draft document this past week with regulators for a coming initial public offering, or IPO. Reports of Uber's S-1 filing with the Securities and Exchange Commission comes a day after smaller Lyft said it had filed similar papers.
Both ride-sharing firms are widely expected to debut as public companies in 2019, with Uber coming to market perhaps "as soon as the first quarter," according to the Journal.
Details about how much money the companies are trying to raise and what price the shares might be priced at, weren't immediately available, the Journal said.
The two IPOs could raise billions for the two companies to fuel their expansions, while giving investors their first chance to buy stakes in the ride-hailing phenomenon, according to the Associated Press.
This article originally appeared on USA TODAY: Uber starts IPO process in confidential filing that creates race with rival Lyft, report