Uber pulls back on valuation with IPO pricing
newsare.net
Uber pulled back on its ambitious valuation target Friday, while still pricing its share offering in a range that would make it one of the largest tech market debuts in recent years. The ride-hailing firm said in a securities filing it would sell 207 millionUber pulls back on valuation with IPO pricing
Uber pulled back on its ambitious valuation target Friday, while still pricing its share offering in a range that would make it one of the largest tech market debuts in recent years. The ride-hailing firm said in a securities filing it would sell 207 million shares in a range of $44 to $50 dollars, raising up to $10 billion. That would give Uber a market value of between $74 billion and $84 billion. Some media reports said the figure could be up to $90 billion accounting for restricted stock options. But the pricing target - still subject to change - fell below earlier ambitions of a valuation of more than $100 billion for the firm operating in some 700 cities around the world. Uber will trade on the New York Stock Exchange under the ticker «UBER» sometime next month. It also announced a private placement of the tech finance firm PayPal of $500 million. In its filing, Uber estimated a loss in the first quarter of 2019 of $1.1 billion on revenue of $3 billion, continuing a trend of steep losses for the San Francisco-based startup. Uber has become the largest ridesharing platform but has also been expanding into new segments including food delivery, freight, and «last mile»... Read more














