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"I think it's fair to say that their CEO's characterization of our relationship is wildly inaccurate." Uber has no deal of any kind with Yay Yo, according to Kaitlin Durkosh, a spokeswoman for Uber.

Later, El-Batrawi said the company never got Lyft's cease-and-desist order, and Bob Vanech, a Yay Yo board member, said it has some "clever strategies" to deal with the fact that Uber and Lyft are denying companies like Yay Yo access to their information. But the moment we start launching and generating revenue, which is not far along, our valuation is so much lower than what you would consider what Uber and Lyft is and everybody else." The IPO, with a share price of , already values the company at 0 million.

He has emerged as the latest in a lineage of Silicon Valley prodigies who are alternately hailed for pushing the world in new directions and reviled for overstepping their bounds.

" The man on TV has well-coiffed gray hair and looks directly into the camera. Even though the IPO is "qualified" by the Securities and Exchange Commission, the aggressive way Yay Yo shares are being marketed could be problematic, experts say, especially since the pitch is to mom-and-pop investors.

In comparison, Google offered just 7.2 per cent of its stock when it went public in 2004 - and rose 18 per cent on day one.

Zuckerberg was perched on a stage at am local time outside of Facebook headquarters in what employees call 'Hacker Square,' and was joined by Facebook’s Chief Operating Officer Sheryl Sandberg, as well as dozens of other employees.

Facebook offered nearly 20 per cent of its available stock in the IPO, so there was enough to meet demand.

Since its start as a scrappy network for college students, Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.

The IPO, expected to mint more than a thousand paper millionaires at the company, has received wall-to-wall media coverage and sparked hopes of a boom in sales of everything from San Francisco Bay Area real estate to automobiles.

In addition to its aggregator app, Yay Yo says it is gearing up to launch its own ride-hailing service with a fleet of luxury cars and salaried drivers behind the wheel.

"We are moving along in pretty good shape," he said.

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