Uber treads cautiously with $82.4bn valuation ahead of market debut

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The ride-hailing app is settling for a lower share price amid concerns about whether such companies are able to turn a profit.

A windfall for drivers may not be forthcoming. Earlier this week, Uber workers in the UK and US went on strike, with some drivers claiming they struggle to make ends meet despite working long hours.

Some Uber drivers have also been accused of assaulting passengers, and one of the company's self-driving test vehicles struck and killed a pedestrian in Arizona last year while a back-up human driver was behind the wheel. Despite this, the California-based company has lost about $9bn since its inception and has warned it could be years before it makes a profit.

 

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