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Uber IPO To Be In The Range Of $44 To $50

Uber is undoubtedly one of the biggest ridesharing companies in the world right now that provides its services globally. It has been involved in quite a few controversies as well, of late. It came as a surprise for many when Uber declared that it was ready for an Initial Public Offering or IPO. Investors and analysts did the calculations and set Uber’s net worth between $80 billion and $90 billion. Their initial stock price in the IPO will lie between $44 and $50, they revealed.

Last year, a multitude of bankers set the valuation for Uber at $120 billion which was closer to the $76 billion it was successful in getting from a fundraiser that took place. However, the latest numbers are lower than the expected values and the poor performance of Lyft, a company of a similar ridesharing niche but a smaller organization may have been instrumental in the downgrading of Uber. Lyft closed at 22 % below the IPO price that it launched itself at on Thursday and skepticism started flaring.

Once Uber launches its IPO price at $44 to $50, it is expected to raise capital between $8 billion to $9 billion. Considering the amount, this will rank as one of the highest IPO since the time Alibaba went through a similar process. Some insiders of Uber are also expected to sell their shares at the IPO, taking the value up to $10 billion.

On Friday, Uber will reveal the sale of its last stock which will mark the end of its status as a private company and become a public one. Uber has earmarked Monday as the day it makes it’s an entry in the New York stock exchange and has organized a roadshow for the particular event. Top executives of Uber are slated to attend the event in Washington.

By Aaron Fortunato

Aaron has accomplished his graduate degree in B. Tech Electronics and Communications from the reputed University in the Year 2014. After that, he pursued his career as a technical writer and has been contributing to our technical writing division. Along with writing and editing articles, PRs, and blogs, he also conducts seminars and short classes for the team to share knowledge and make improvements in the current strategies followed by them. His passion for technical writing provokes him to explore updated technology-based gadgets, attending exhibitions, and attending conferences.

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