Connect with us

startups

The first day of Uber as a public company did not turn out well

Published

on

The first day of Uber as a public company did not turn out well

People who have invested their money on Uber are not very happy at this point in time. Today, Uber debuted on the NYSE also known as the New York Stock Exchange. The company entered with the name of NYSE: UBER in the stock exchange.

In the beginning, the company was valued at around $72 billion by all the venture capitalist and the stock prices were kept $45 a piece with the valuation of $82.4 billion. When this morning the market started, the value of the shares was $42 a piece and it closed at $41.57. The prices of the share have gone down about 7.6 percent from the initial public offering price.

The initial public offering was a successful step for Uber because it can raise a lot of money. Uber now has about $8.1 billion on its balance sheet which is still a very big number. This number will definitely help the company become a profitable business.

People who have expected that Uber will end up climbing the valuation of $100 billion in their initial public offering are not very happy now. People who valued the company at $120 billion are feeling very dumb now. This launch is one of the most iconic launches in the history of tech, mobility, and the gig economy.

People are not very sure how the stock of Uber will do in the future. It has been seen that Lyft has taken an initial public offering and since then it has not been doing great. They are now going for $51 per share, which is more than Uber. The stock has seen a steady decline all week long and it is expected that the company will face some loss in the first quarter of the year 2019.

Source

Henry is a writer from Berlin. His work has appeared at various popular media sites such as BBC, The Outline, DAME, etc. At GadgetFreeks, He reports news about the latest startups launching in the market. Also, He likes to share the latest tech news from the market.

Click to comment

Leave a Reply

Your email address will not be published.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

Latest News

Happy Guru Purnima Quotes Happy Guru Purnima Quotes
Lifestyle7 days ago

Happy Guru Purnima 2019: Quotes, Greetings, Slogans, Thoughts & Sayings on Cards

Guru Purnima is a traditional Indian festival which is dedicated to all the gurus. Teachers are one of the important...

Guru Purnima Wishes Guru Purnima Wishes
Lifestyle7 days ago

Happy Guru Purnima 2019: Wishes, Messages, Whatsapp Status, Poems, Shayari to share with Teachers & Gurus

This year Guru Purnima is going to be celebrated on 16 July 2019. This is a special occasion and marks...

Lifestyle7 days ago

Happy Guru Purnima 2019: Images, GIF, Stickers, Pics & Photos to share with Teacher’s & Guru’s

Guru Purnima is the day that is dedicated to all the gurus in our lives. This year the occasion will...

Fortnite, PUBG coaches now available on Fiverr Fortnite, PUBG coaches now available on Fiverr
Games1 week ago

Fortnite, PUBG coaches now available on Fiverr

Fiverr as you all know is a popular international services platform that makes money from commissions by connecting people with...

Twitter users in Canada can now hide their replies to their tweets Twitter users in Canada can now hide their replies to their tweets
apps1 week ago

Twitter users in Canada can now hide their replies to their tweets

In April, this year, Twitter announced that it has plans to experiment with a new feature. According to the new...

Mi A3 Lite and Mi A3 launch teased; codenames and specifications revealed Mi A3 Lite and Mi A3 launch teased; codenames and specifications revealed
gadgets1 week ago

Mi A3 Lite and Mi A3 launch teased; codenames and specifications revealed

Xiaomi is soon going to launch Mi A3 lite and Mi A3. Donovan Sung who happens to be Xiaomi global...

Searching a Screenshot File Searching a Screenshot File
Mac2 weeks ago

How to Print Screen on A Mac? – Three different ways of taking screenshots on Mac

If you want to take a screenshot on Mac, then you should be searching for a “print screen” button on...

PUBG Lite for PC PUBG Lite for PC
apps2 weeks ago

PUBG Lite Beta Now Available: How to Download, Update, Play & Install PUBG Lite for PC & Windows

PlayersUnknown Battleground is popularly known as PUBG. It is an online multiplayer Battle Royal game.  According to the battle royal...

4th of July Greeting Cards 4th of July Greeting Cards
Lifestyle3 weeks ago

Happy 4th of July 2019: Greeting Cards, Ecards & Gift Cards to share on Fourth of July

4th July is not much far and it is knocking the door. It is the time when we should all...

USA Independence Day Patriotic Quotes USA Independence Day Patriotic Quotes
Lifestyle3 weeks ago

USA Independence Day 2019: Patriotic Quotes, Greetings & Parade on Images for Fourth of July

Independence Day is the day that is a special one for the Americans. It is celebrated with great pomp and...

Trending