Uber Aims for Valuation of Up to $91 Billion in I.P.O. – Smart Media Magazine

Uber Aims for Valuation of Up to $91 Billion in I.P.O.


SAN FRANCISCO — Uber expects to be worth as much as $91 billion when it starts selling shares next month, making its initial public offering one of the largest in the history of the technology industry.

With its amended prospectus, filed with the Securities and Exchange Commission on Friday, Uber is kicking off the last stage of the ride-hailing company’s journey to list on the public stock markets. Its offering is expected to mint a new generation of Silicon Valley millionaires and billionaires.

Uber set a price range of $44 to $50 a share, putting its valuation at $80 billion to $91 billion, accounting for stock options and restricted stock. That number could change depending on investor appetite for the company’s shares over the next two weeks.

At that valuation, Uber would dwarf its rival Lyft, which went public last month at a valuation of more than $24 billion — but it would place the company behind Facebook, which went public in 2012 with a market capitalization of $104 billion, and the Chinese e-commerce site Alibaba, which was valued at $168 billion in its 2014 offering.



Source link Business

Leave a Reply

Your email address will not be published. Required fields are marked *