Uber’s IPO joins ranks of Wall Street flops
5 years, 7 months ago

Uber’s IPO joins ranks of Wall Street flops

Live Mint  

New York: It was to usher in nothing less than a new era for Wall Street. Done in by a broad stock market selloff and a weak earnings report posted by its primary rival, Uber plunged immediately at the opening of trading, falling as much as 8.8% from its IPO price of $45 per share, a level that was already at the low end of bankers’ expectations. Dara Khosrowshahi, Uber’s chief executive officer, said in an interview on the floor of the New York Stock Exchange that trade tensions between the U.S. and China played a role in the weak performance. “Uber has lost more money faster than any startup in history, with no clear path to profitability.” Uber’s losses last year totaled $3.04 billion on an operating basis, with revenue of $11.3 billion. Even at the low end of the price range, Uber’s listing was the ninth-largest U.S. IPO of all time and the biggest on a US exchange since Alibaba Group Holding Ltd.’s $25 billion global record holder in 2014, according to data compiled by Bloomberg.

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History of this topic

Wall Street eyes active 2025 IPO year with $18 billion in potential offerings
2 days, 1 hour ago

Wall Street eyes active 2025 IPO year with $18 billion in potential offerings

Live Mint  

Wall Street kicked off the 2025 IPO market with a flurry of paperwork paving the way for some of the year’s biggest potential deals. An IPO for the world’s largest pork producer, acquired by a Chinese company in 2013, may raise $1 billion or more, Bloomberg News reported earlier. Several others snuck in before the 2024 calendar flipped over, such …

Didi stock closes 1% above IPO price in blockbuster US launch
3 years, 6 months ago

Didi stock closes 1% above IPO price in blockbuster US launch

CNN  

Hong Kong CNN Business — Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Didi raised $4.4 billion from the stock sale, making it the largest Chinese IPO in the United States since Alibaba’s $25 billion offering in 2014, according to Dealogic. The company was founded in Beijing in 2012 …

Analysis: No profits? No problem for red hot tech IPOs
4 years ago

Analysis: No profits? No problem for red hot tech IPOs

CNN  

New York CNN Business — Remember “irrational exuberance,” the phrase coined by former Federal Reserve chairman Alan Greenspan to describe soaring stocks in the mid-1990s? DoorDash surged more than 85% when it debuted on Wall Street Wednesday while Airbnb opened about 115% higher in its initial public offering price Thursday and quickly reached a 135% gain. To put that in …

Uber and other unicorns flopped on Wall Street this year. Will IPOs rebound in 2020?
5 years ago

Uber and other unicorns flopped on Wall Street this year. Will IPOs rebound in 2020?

CNN  

New York CNN Business — In a year when the Dow Jones Industrial Average has risen almost 20%, shattering one record after another, some newly public companies have been left in the cold. “Tech companies have pushed the edges of the envelope with dual class stock listings and CEO/founder control,” Gellert said in an interview with CNN Business. It’s front …

Chewy and these other unicorns may save the IPO market
5 years, 6 months ago

Chewy and these other unicorns may save the IPO market

CNN  

New York CNN Business — Uber and Lyft disappointed investors since they went public. It’s a move similar to what Spotify did when it went public, and will allow Slack to bypass the traditional process of hiring Wall Street bankers to sell new shares of the company to institutional investors. “Investors are being more discerning and that’s a positive.” Davidson …

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides
5 years, 7 months ago

Column: As was predicted, Uber’s IPO means you’ll be paying higher fares for your rides

LA Times  

Uber’s first-quarter earnings report released Thursday — its first since the ride-hailing company went public on May 10 — disclosed more than the financial condition of the company. — Uber CFO Nelson Chai During their conference call with investment analysts following the company’s earnings release Thursday, Uber’s leadership didn’t say explicitly that fares would be rising. “Uber’s growth to date …

Uber IPO may have flopped but some unicorns are alive and well
5 years, 7 months ago

Uber IPO may have flopped but some unicorns are alive and well

CNN  

New York CNN Business — 2019 hasn’t been a magical year for unicorns. But the recent weakness isn’t necessarily a bad sign for Slack — or Airbnb, WeWork or other high profile private unicorn companies that are expected to be considering IPOs later this year or in 2020. It’s no surprise to see lesser-known software companies thrive as public companies, …

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype
5 years, 7 months ago

Banker gives inside look at why Uber and Lyft IPOs failed to live up to the hype

CNN  

New York CNN Business — Uber and Lyft were two of the most highly anticipated IPOs in recent memory. The high-profile flops demonstrate the need for money-losing companies to do a much better job explaining how they’ll eventually make money, according to Carter Mack, whose investment bank helped bring Uber and Lyft public. The disappointing debuts of Uber and Lyft, …

Uber shares add to losses as CEO expects further pressure
5 years, 7 months ago

Uber shares add to losses as CEO expects further pressure

Live Mint  

Uber Technologies Inc's shares fell 12% on Monday, more than doubling their losses since the ride-hailing giant's poorly received market debut, and its chief executive officer said he expected the stock to remain under pressure in the coming months. Uber lowered its valuation expectations twice in the past two months to address investor concerns over its mounting losses, and finally …

Uber CEO expects further pressure as falling shares more than double losses; says stock did not trade as well as hoped post-IPO
5 years, 7 months ago

Uber CEO expects further pressure as falling shares more than double losses; says stock did not trade as well as hoped post-IPO

Firstpost  

Uber’s market capitalization has fallen to about $61 billion since its IPO on Thursday, still larger than Wall Street heavyweights including General Motors and FedEx Uber Technologies Inc’s shares fell 12 percent on Monday, more than doubling their losses since the ride-hailing giant’s poorly received market debut, and its chief executive officer said he expected the stock to remain under …

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week
5 years, 7 months ago

Uber's Underwhelming IPO, Lyft Earnings and More Car News This Week

Wired  

Finally, after much ink spilled and many hours prognosticating, it happened: Uber started trading on the stock market. One thing you don’t want to hear from inside a self-driving race car as it preps to make a hairpin turn: “This one’s going to be a little fast.” General Motors’ autonomous vehicle unit, Cruise, raises another $1.15 billion. A global strike …

Uber's market debut sours most anticipated IPO since Facebook; only about a fifth of IPOs have ended first day of trading in red
5 years, 7 months ago

Uber's market debut sours most anticipated IPO since Facebook; only about a fifth of IPOs have ended first day of trading in red

Firstpost  

Uber’s IPO was a watershed moment for the decade-old company, which was started after its founders struggled to find a cab on a snowy night. Uber Technologies Inc’s conservative initial public offering could not keep its shares from sinking in their trading debut on Friday, fueling debate on Wall Street over whether the outcome of the most anticipated listing since …

Uber’s hyped-up IPO hits a few potholes on its first day
5 years, 7 months ago

Uber’s hyped-up IPO hits a few potholes on its first day

Associated Press  

NEW YORK — After much hype leading up to the largest initial public offering in five years, Uber hit a few potholes on its first day of trading, closing down 8% and reflecting lingering doubts about its future prospects for profitability. “It was a tough week to go public, but we got it done.” Uber’s IPO price was lower than …

Uber prices IPO conservatively at $82.4 bn, hopes it will spare ride-hailing firm trading woes of rival Lyft
5 years, 7 months ago

Uber prices IPO conservatively at $82.4 bn, hopes it will spare ride-hailing firm trading woes of rival Lyft

Firstpost  

The IPO still represents a watershed moment for Uber, which has grown into the world’s largest ride-hailing company since its start 10 years ago. However, the IPO still represents a watershed moment for Uber, which has grown into the world’s largest ride-hailing company since its start 10 years ago. Uber’s valuation in the IPO is almost a third less than …

Uber’s crazy ride: From cool app that saves time to biggest IPO in years
5 years, 7 months ago

Uber’s crazy ride: From cool app that saves time to biggest IPO in years

Live Mint  

How much is a great idea worth? “He’s an incredible idea generator,” says Tim Ferriss, a friend and self-help author who invested in Uber after Camp pitched him the idea at a bar in 2008. Kalanick helped recruit Ryan Graves as Uber’s first CEO with a tweet promising “BIG equity, big peeps involved.” Graves spent his first six months getting …

Uber makes its Wall Street debut
5 years, 7 months ago

Uber makes its Wall Street debut

CNN  

New York CNN Business — For nearly two years, Uber raced to rebuild its executive bench, overhaul its internal culture and repair its tarnished brand after suffering a long list of PR crises, all with the stated intention of being ready to go public in 2019. Shares of Uber fell more than 7% on its first day of trading Friday, …

Uber shifts into lower gear, prices IPO at $45
5 years, 7 months ago

Uber shifts into lower gear, prices IPO at $45

Associated Press  

SAN FRANCISCO — Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years. The price is at the lower end of its targeted range of $44 to $50 per share, a decision that may have been driven by the escalating doubts about the ability of ride-hailing services to …

Uber sets IPO pricing
5 years, 8 months ago

Uber sets IPO pricing

CNN  

CNN — The most hyped IPO of the year turned out to be smaller than some expected. At the top end of that proposed price range, Uber would have been valued at $91 billion on a fully diluted basis, an impressive sum but well below the $120 billion valuation that bankers had once reportedly suggested to the company. The conservative …

Why it might not be smart to buy a company on its IPO day
5 years, 8 months ago

Why it might not be smart to buy a company on its IPO day

CNN  

New York CNN Business — Should I buy an initial public offering on its first day of trading or wait awhile to see how the stock does? Lyft is now trading about 25% below its IPO price because of concerns about how much money it is losing, competition with Uber and underwhelming results in its first earnings report since going …

Uber may stumble like Lyft even as other recent IPOs soar
5 years, 8 months ago

Uber may stumble like Lyft even as other recent IPOs soar

CNN  

New York CNN Business — Based on how two high-profile initial public offerings have done lately, Uber might be better off pitching itself as a delivery service for plant-based food via Uber Eats instead of a company that takes passengers from point A to point B. Uber rival Lyft, reported its first results as a public company after the closing …

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up
5 years, 8 months ago

Uber CEO Dara Khosrowshahi, management team take IPO roadshow to New York as demand builds up

Firstpost  

Uber is set to price its $10 billion IPO on 9 May, seeking a valuation of up to $90 billion New York: Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch …

Uber takes investor roadshow to New York as demand builds up before its IPO
5 years, 8 months ago

Uber takes investor roadshow to New York as demand builds up before its IPO

Firstpost  

Uber’s IPO is being led by Morgan Stanley, Goldman Sachs Group Inc and Bank of America Corp. Uber Technologies Inc CEO Dara Khosrowshahi and his top management team took the ride-hailing giant’s investor roadshow for its initial public offering to New York on Tuesday, as demand for its shares already exceeded supply. At a lunch presentation in the Mandarin Oriental …

Uber pitches expansions while investors question losses
5 years, 8 months ago

Uber pitches expansions while investors question losses

Live Mint  

Uber Technologies Inc. is betting expansion into new markets and new business areas will attract investors to its initial public offering. During the Q&A session, Uber management shared its plan to expand in logistics and other transportation businesses, including scooters, autonomous driving and mass transit, one of the people said. Unlike its competitors, Uber’s existing platform allows it to benefit …

Uber looks to raise up to $9B in initial public offering
5 years, 8 months ago

Uber looks to raise up to $9B in initial public offering

Associated Press  

NEW YORK — Ride-hailing giant Uber is aiming to raise $9 billion in its mammoth initial public stock offering that, while smaller than initially expected, still dwarfs most stock market debuts. The San Francisco-based company expects to be valued at $80.5 billion to $91.5 billion, falling well below prior estimates that rose as high as $120 billion, in a sign …

Uber aims for an IPO valuation of as much as $90 billion
5 years, 8 months ago

Uber aims for an IPO valuation of as much as $90 billion

Live Mint  

Uber Technologies Inc. is aiming for a valuation of about $80 billion to $90 billion in its initial public offering, just above its last private funding round, according to people familiar with the matter. At the lower end of the range the price would value Uber just above its last private funding round, in which Toyota Motor Corp. invested at …

Uber’s valuation appraisal more complex than Lyft’s, says professor
5 years, 8 months ago

Uber’s valuation appraisal more complex than Lyft’s, says professor

Live Mint  

Uber Technologies Inc. isn’t exactly Lyft Inc., said Aswath Damodaran, a finance professor at New York University’s Stern School of Business, but the market will price them relative to each other. The two ride-sharing companies are making their debuts in the equity capital markets, with Lyft going public at the end of last month, and Uber filing its prospectus last …

Uber unveils IPO with warning it may never make a profit
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit

Live Mint  

Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its IPO filing. The S-1 filing underscores Uber's rapid growth in the last three years but also how a string of public scandals and increased competition from rivals have weighed on its plans to attract …

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future

Firstpost  

Although Uber’s user base includes customers of other services as well as ride-sharing, Uber’s 91 million is nearly five times the 18.6 million announced by rival Lyft Inc. New York: Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its initial public offering filing. …

Uber seeks $10 billion in year’s biggest IPO
5 years, 8 months ago

Uber seeks $10 billion in year’s biggest IPO

Live Mint  

San Francisco: Investors could get their first look at hundreds of pages of detailed information about Uber Technologies Inc as soon as Thursday, as the ride-hailing giant gears up to publicly file for an initial public offering. Prospective investors are hungry for the minutiae, and they’re now armed with ride-hailing rival Lyft Inc’s March listing as a reference point for …

Lyft valued at $24.3 billion in first ride-hailing IPO
5 years, 9 months ago

Lyft valued at $24.3 billion in first ride-hailing IPO

Live Mint  

Lyft Inc was valued at $24.3 billion in the first initial public offering of a ride-hailing startup on Thursday, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported …

Lyft aims to raise up to $2.1 billion in 2019’s biggest US IPO
5 years, 9 months ago

Lyft aims to raise up to $2.1 billion in 2019’s biggest US IPO

Live Mint  

San Francisco: Lyft Inc. is seeking to raise as much as $2.1 billion in its initial public offering, valuing the firm at almost $20 billion. At the targeted range, the San Francisco-based company’s offering will be the biggest from a tech upstart since Snap Inc. went public two years ago, and the largest in the US so far this year …

Uber plans to kick off IPO in April, right after Lyft’s
5 years, 9 months ago

Uber plans to kick off IPO in April, right after Lyft’s

Live Mint  

San Francisco: Ride-hailing company Uber Technologies Inc. is planning to kick off its initial public offering in April, putting it close on the heels of smaller rival Lyft Inc., people familiar with the matter said on Thursday. Uber's business is much larger and more diverse than Lyft's, and the firm has moved relatively swiftly to go public given both firms …

Lyft IPO is a pure bet on the US ridesharing market
5 years, 10 months ago

Lyft IPO is a pure bet on the US ridesharing market

CNN  

New York CNN Business — 1. Looking under Lyft’s hood: Lyft appears to have beaten Uber in the race to become the first US ridesharing company to go public. Lyft’s IPO filing will show how, unlike Uber, it’s squarely focused on the booming American ridesharing market. “Lyft is much more a bet on a pure-play US ride-sharing market,” said Asad …

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