New York (CNN Business) Uber, the most highly- valued US based startup, is heading into its much-anticipated IPO after more than one billion dollars in losses last year.

The company lost $1.8 billion in 2018, the first full year under new CEO Dara Khosrowshahi, according to the company's select financial results for 2018 released on Friday. The staggering figure represents a modest improvement from one year ago when it reported $2.2 billion in losses.

While Uber's losses shrunk, so did its sales growth. Its revenue hit $3 billion in the final three months of 2018, up just 2% from the prior quarter and up 25% from the same period a year ago.

By comparison, Uber's revenue in the September quarter increased by 38% from the year prior. Its June quarter revenue shot up by a strong 63% from the year prior.

In 2018, the company sold its business in Southeast Asia to Grab and merged its Russia business with Yandex. The company's financials exclude the impact of those sales on Uber's business.

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