Uber IPO valued at up to $90 billion, SEC filing confirms
The ride-hailing company on Friday confirmed that it is targeting a valuation of up to $90 billion in its initial public offering, with the business the latest in a string of unicorn listings scheduled to go public this year.
Uber Technologies confirmed on Friday that it is seeking a valuation of between $80 billion - $90 billion in its upcoming initial public offering (IPO).
The ride-hailing company is the latest in a string of upcoming unicorn listings – private businesses targeting a valuation north of $1 billion – scheduled to happen this year, wiith social media site Pinterest, collaboration tool provider Slack and Airbnb all planning to going public in 2019.
Uber lowers expectations after Lyft IPO disappoints
The ride-hailing company had originally targeted a valuation of $120 billion but, according to media reports, lowered its expectations after its smaller rival Lyft’s share price fell by 22% since it listed on Nasdaq’s exchange on March 29.
Uber also confirmed that its stock ticker on the New York Stock Exchange (NYSE) will be UBER.
Uber IPO: Initial market cap comparison
PayPal backs Uber IPO with $500 million investment
In its filing to the US Securities & Exchange Commission (SEC), Uber confirmed reports that PayPal will invest $500 million through a concurrent private placement at the IPO price.
‘We and Paypal extended our global partnership through the execution of an addendum to our existing commercial agreement,’ the company said.
‘We and Paypal intend to explore future commercial payment collaborations, including the development of our digital wallet.’
This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.
Be ready to act on ECB opportunities
Learn how the ECB’s monetary policy announcements affect interest rates and price stability ahead of its next meeting in 12 December 2024.
- How might the next meeting affect the markets?
- What are the key rate decisions to watch?
- Why is the Governing Council announcement important for traders?
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
