Posted by & filed under Payment Technology, Uber.

Uber office sign

Uber has revealed that it is seeking a valuation of $90bn (£70bn) in its much anticipated stock market flotation.

The taxi-app firm has said that its shares will be priced at between $44 and $50 each, with the share issue set to raise about $10bn.

As part of the offer it will sell $500m worth of shares to payment giant, PayPal.

Uber warned earlier this month that it may never make a profit.

The IPO price values the company below the $100bn some had expected it to aim for.

As well as the original “ride-hailing” business, Uber is developing driverless cars, and has a food delivery business, Uber Eats.

Source: BBC Technology News

Date: April 26th, 2019

Link:
https://www.bbc.com/news/business-48063637

Discussion

  1. Why is Paypal buying half-a-billion dollars of Uber stock? What’s in it for PayPal?
  2. Why would anyone buy IPO stock in a company that is losing $1bn a quarter?

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