Uber, 2 years after getting spanked, acts like a grown-up in its IPO

Two years ago, Uber Technologies Inc. was the quintessential Silicon Valley problem child, exposed for a ridiculous series of detestable deeds that it performed in attempts to “disrupt.”

Yet when the most highly valued Silicon Valley tech startup finally filed for its initial public offering on Thursday, it portrayed itself as the grown-up among its peers.

After ridding itself of Chief Executive Travis Kalanick, Uber crowed (as much as a company can in an IPO filing) about its mature corporate governance, especially offering one vote for each share, a rarity in this age.  That is a mantra most…

institutional investors want to hear. Whether it will win them over while knowing that it is only because of the exposed bad actions, and after they weed through Uber’s massive 285-page plus filing, is another question.

While Uber’s scale is enough to put it far ahead of startups that are sticking with the type of founder control that has given Mark Zuckerberg a lifetime throne at Facebook Inc. FB, +0.88%  — including ride-hailing app rival Lyft Inc. LYFT, -3.82%LYFT, -3.82% LYFT, -3.82% and Pinterest Inc. PINS, +0.00% PINS, +0.00%PINS, +0.00% PINS, +0.00% PINS, +0.00% LEVI, -1.87% — its massive size also comes with daunting losses and confusing financial statements. Uber hopes that…

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