Sorry, bears, Uber’s bad IPO has nothing to do with the company’s future success

Facebook’s FB, +3.27% initial public offering was way worse.

“In the long run, we don’t see predictive power for future performance from an IPO that drops below its initial price,” she said. Renaissance runs an exchange traded fund that focuses on newly public companies, the Renaissance IPO ETF IPO, +1.13% They’re changing social behavior the way Facebook, Apple AAPL, +1.40% Amazon AMZN, +1.76% Netflix NFLX, +2.67% and Alphabet GOOG, +4.16% GOOGL, +4.35% have done. Thanks to Uber and Lyft, a growing number of people no longer have cars. It’s now viable to live without a car in most U.S. cities and many suburbs.

BrettArends Since Uber doesn't own the vehicles and doesn't employ the drivers, their business model requires people to use their app to hail a ride. We already see Uber and Lyft stickers on cars. Soon, there will be an iApp or similar that pays nothing to Uber.

BrettArends So much success that it’s loosing billions of dollars so far

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Uber drivers' strike takes off in front of company headquarters ahead of $90 billion IPORideshare drivers across the world are boycotting Uber for as long as 24 hours today, demanding fare increases and lower commissions paid to Uber. Or they could get another job I had 0 problem getting an uber today. Wouldn’t even have known there was a strike Striking on a company that isn't showing a sign of making money yet.
Source: CNBC - 🏆 12. / 72 Read more »

Questions Persist About About Uber’s Profits—And Its Stocks Fall FurtherWhen the market closed, Uber shares were trading well below the original IPO price. Fake news Uber sucks. They rip off their “independent contractors.” And Travis is the lamest of silicon valley’s tragically unhip.
Source: Forbes - 🏆 394. / 53 Read more »