- Uber Technologies Inc, the world’s largest ride-hailing company, plans an initial public offering that values the company lower than the startup’s insiders had hoped, between $80.5 billion and $91.5 billion.
“We believe that recent price reductions for both Uber and Lyft may be indicative of investor hesitance to invest in highly capital-intensive, deeply unprofitable and untested business models at this late stage of the economic cycle,” PitchBook analyst Asad Hussain said. The updated public filing comes as Uber begins its 10-day investor road show, in which management will pitch Uber to public markets investors.
Uber will face a host of questions from investors, including when it will turn a profit, how it will navigate the transition to autonomous vehicles, and whether its business model can support higher driver costs from minimum wage rules.
Reminds me of the dot com bubble. Merchant banks saying these stocks will come good and then when they fail saying it's not our problem. Buyer Beware?
The title here alone says all I need to know. If UBER hemorrhage’s cash till an eventual restructuring, founders and management will still get rich at the expense of every one of their underpaid employees and the cab industry they compete with.
Find better hand models.
right...
Arf...
sweet business ya got there
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