Rumors of an Uber IPO heated up earlier this summer after the company raised $1.2 billion in a funding round that valued the ride-sharing company at roughly $18.2 billion.
Since then, however, the conversation regarding Uber has mostly centered on its nasty competition with rival Lyft. Lyft has become quite the thorn in Uber's side, especially as the latter prepares for an eventual IPO.
Both ride-sharing companies were founded in San Francisco (Uber in 2009 and Lyft in 2012) and allow users to request a ride through a mobile application. Uber employs professional drivers and typically uses town cars or other upscale vehicles. Lyft relies on a "community" of approved drivers who use more modest vehicles.
Lyft has historically marketed itself as a more inexpensive alternative to Uber, spurring Uber to create its own more affordable offering titled "UberX."
In a counter move, Lyft unveiled the new service "Lyft Line" in August that lets users share and split rides.
The companies have gone back and forth trying to steal market share from each other throughout 2014. That's normal for competing companies.
However, the battle for supremacy has grown increasingly contentious in the last month.
Lyft Gets Feisty in Uber Battle
First, Lyft claimed that Uber employees had requested and canceled more than 5,000 rides from Lyft, in an attempt to disrupt the firm's services. Shortly thereafter, Uber fired back saying that Lyft employees had done the same thing to Uber, up to 13,000 times.
"A number of Lyft investors have recently been pushing Uber to acquire Lyft," Uber officials said in early August after the controversy. "One of their largest shareholders recently warned that Lyft would 'go nuclear' if we do not acquire them. We can only assume that the recent Lyft attacks are part of that strategy."
Of course, Lyft denied those accusations.
"Once again Uber is deceiving the public, now with false allegations and an attempt to deflect from their illegal cancel campaign," Lyft officials said. "Lyft has more than 100 investors, all of whom are extremely excited that Lyft is approaching IPO-level revenue."
Specific revenue figures from both companies are unknown since they're both private. However, TechCrunch reported earlier this year that Uber had revenue of $213 million in 2013 and that its revenue was doubling every six months.
Less is known about Lyft, although it has said that it is currently experiencing 30% month-over-month growth. And, of course, it claimed its revenue is "IPO-level" when it shot back at Uber this month.
No timeframe has been set for an Uber IPO, but it's only a matter of time before the company takes its stock public with those revenue figures.
And according to Money Morning experts, Uber stock will be a very interesting investment opportunity, even as the competition heats up…