San Francisco: Uber's next stop is the stock market, where it hopes to pick up more investors willing to bet on a ride-hailing market brimming with potential and conspicuously lacking in profits. The world's largest ride-hailing service reached a major milestone Thursday when Uber priced its long-awaited initial public offering at USD 45 price per share to set the stage for its stock to begin trading on Friday morning.

The IPO came in at the lower end of Uber's targeted price range of USD 44 to USD 50 per share. The caution may have been driven by escalating doubts about the ability of ride-hailing services to make money since Uber's main rival, Lyft, went public six weeks ago. Even at the tamped-down price, Uber now has a market value of $82 billion ¿ five times more than Lyft's. No matter how Uber's stock swings Friday, the IPO has to be considered a triumph for the company most closely associated with an industry that has changed the way millions of people get around. That while also transforming the way millions of more people earn a living in the gig economy. The IPO raised another USD 8.1 billion for Uber as it tries to fend off Lyft in the U.S. and help cover the cost of giving rides to passengers at unprofitable prices.