Home Business NewsBusinessAutomotive News Uber values itself at $82bn ahead of IPO

Uber values itself at $82bn ahead of IPO

by LLB Reporter
10th May 19 9:31 am

The most hotly and debated initial public offering (IPO) in years will be happening today as Uber gets ready for Wall Street.

The long-awaited arrival on the Stock Market has priced their IPO at $45 per share late on Thursday evening.

Since Uber’s rival Lyft went public six weeks ago the ride hailing service targeted their price at the lower end of $44 to $50 per share. This is possibly due to over escalating doubts over their ability to make money over their rival’s IPO.

Next Friday the company will face their test when shares start to trade on the New York Stock Exchange.

The company raised another $8.1bn to help cover the costs of their unprofitable prices and to try and fend of rival Lyft in the US.

Uber has been popular in the news with Travis Kalanick CEO who was ousted after revelations of unsavoury behaviour that sullied their image.

Internal sexual harassment accusation and accusations the company stole the self-driving car technology has caused self-inflicted wounds.

Some Uber drivers have been accused of rape, assaulting passengers, with many car crashes, and a pedestrian was killed in Arizona in 2018 by one of their self-driving test vehicles.

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