Uber and Lyft faced several challenges during their IPOs. One of the main issues was the high level of uncertainty and skepticism from investors about their business models and profitability. Both companies were not profitable at the time of their IPOs, which raised concerns about their long-term viability. Additionally, they faced regulatory challenges and pushback from the taxi industry. There were also issues related to their treatment of drivers as independent contractors, which led to protests and strikes around the time of the IPOs.
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