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Uber Sets IPO Valuation at $91.5 Billion
Uber Technologies Inc. has capped the valuation for its initial public offering at a relatively modest $91.5 billion, reflecting investor skepticism about the ability of the ride-share service to turn a profit.
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Uber Technologies Inc. has set a relatively modest $80.5 billion-$91.5 billion valuation for its initial public offering, a reflection of investor skepticism about the ability of the ride-share service to turn a profit.
In a regulatory filing, Uber set a target range of $44-$50 for its shares. The company aims to begin trading on the New York Stock Exchange on May 10.
Last year, investment bankers predicted Uber IPO could fetch $120 billion. But analysts note that rival Lyft Inc. shares have skidded more than 20% since that company’s $24.3 billion floated one month ago.
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