How many people wish they had gotten on the Uber ride in the very beginning of this company? Uber now indicates that the company could be worth between $80-$90 billion when it goes public on the New York Stock Exchange next month, according to a Friday regulatory filing.
If that total stand, it would make Uber’s initial public offering (IPO) one of the largest ever in the technology industry, as well as the largest IPO this year.
The company that enables users to hail rides says it hopes to raise up to $10 billion in its IPO and plans to sell its shares for between $44 and $50 when it goes public. It had previously said it was aiming for a higher valuation, but it is likely seeking to avoid the mistakes of its smaller rival, Lyft. That company has seen its shares drop by more than 20 percent since Lyft’s IPO last month.
The Wall Street Journal reported late last year that the company’s banking advisers had suggested the ride-hailing firm could go public at a valuation of $120 billion, but it appears to be lessening those expectations.
Facebook went public in 2012 with a market capitalization of $104 billion, and Alibaba in its 2014 IPO was valued at $168 billion.
Lyft made its market debut at a $20.5 billion valuation, and it raised $2.34 billion in its IPO.
A number of other popular startups are considering going public, including Airbnb and Slack.
Uber when it filed to go public earlier this month said its revenue reached $11.3 billion at the end of 2018, with 91 million users on its platforms and 1.5 billion trips taken.
These numbers are tempered by the company’s operating losses last year totaling $1.8 billion.
Do those numbers surprise you? We look forward to seeing your comments in the section below this article.
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