Uber set to launch IPO amid losses

Uber's ride-hailing business has been a consistent money-loser despite its worldwide operations. On Friday, investors have the chance to place their bets on the future of Uber as the company launches an initial public offering.

There are low barriers to entering the ride-hailing business, and competition is increasing, especially in the United States, where Uber goes head-to-head with Lyft. Also, revenue growth is slowing ahead of Uber's IPO on the New York Stock Exchange.

Uber's use of independent contractors driving their own vehicles keeps overhead low, but the company must spend heavily to build market share. Uber's revenue has not caught up with expenditures, and the company has yet to make a profit.