(Reuters Breakingviews) - Uber Technologies’ lackluster stock-market debut is a ...
A banner announcing the IPO of Uber Technologies Inc. hangs outside the New York Stock Exchange in New York, U.S., May 10, 2019. REUTERS/Andrew Kelly
Even the IPO price set on Thursday was a disappointment compared to some expectations. At $45 per share, it valued Uber at around $75 billion, or more than $82 billion counting dilution from outstanding options and such. Like many other recent tech IPOs – but unlike Facebook, which was profitable – Uber relies on investors’ belief that it will one day grow enough to escape its current ocean of red ink. The firm lost approximately $1 billion in the first quarter.
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