NEW YORK - Uber Technologies Inc priced its initial public offering on Thursday at the low end of its targeted range for a valuation of $82.4 billion, hoping its conservative approach will spare it the trading plunge suffered by rival Lyft Inc.
The year’s biggest IPO comes against a backdrop of turbulent financial markets, fueled by the trade dispute between the United States and China, as well as the plunging share price of Lyft, which is down 23 percent from its IPO price in late March. Like Lyft, Uber will face questions going forward over how and when it expects to become profitable after losing $3 billion from operations in 2018.
I think we all know that Uber is digitized slave labour; failing to provide a contractor business model where people can make a living in a 40-50 hour work week.