Uber IPO values ride-hailing giant at $80bn

Uber’s much-heralded move to being a publicly-traded company has put a value of $80bn on the ride-hailing group
May 14, 2019 Read time: 1 min

Uber’s much-heralded move to being a publicly-traded company has put a value of $80bn on the ride-hailing group.

This is less than the $100bn that the company had reportedly hoped for – and still less than the predictions from some analysts last year.

However, it is still a huge initial public offering (IPO), pricing Uber’s 180 million shares at $45 each on the company’s New York Stock Exchange debut.

Uber CEO Dara Khosrowshahi told Reuters: “If we build and build well, shareholders will be rewarded. We’re certainly not measuring our success over a day, it really is over the years.”

There appears to have been caution from some investors following the dip in fortunes of Uber’s rival Lyft, whose share price has fallen since its own IPO.

 

UTC

Related Content

  • August 26, 2016
    Hamburg to bid for 2021 ITS World Congress
    ITS Germany used its presence at the June 2016 Europe ITS Congress in Glasgow to make two major announcements from the city of Hamburg, country’s second-largest urban area. First came a formal bid to host the 2021 ITS World Congress; second, the global unveiling of new Roadwork Administration and Decision System (ROADS) software.ROADS has emerged to enable coordination of planned transport construction projects several years before start dates, to minimise impacts on traffic flows when work begins.
    Read More
  • October 23, 2012
    Kapsch launches the new TRP-4010 next generation DSRC tag in Vienna
    Kapsch has used the ITS World Congress to stage a major new product launch. The company says that not only is the new TRP-4010 next generation DSRC tag 50 per cent smaller, both in size and weight than any of the units available on the market today, but it sets new standards when it comes to customisation, flexibility and efficiency in the supply chain. For instance, the TRP-4010 tag will be offered with an ability to use so called In Mould Design (IMD), a technique that gives the operator that is issuing t
    Read More
  • April 18, 2019
    Quarter of Brits ‘would fund smart city solutions from tax’
    Almost a quarter (24%) of British people would be willing to fund smart city solutions using their own tax contributions, according to new research from ATG Access. Part of road barrier specialist ATG’s ‘Smart cities: Turning the dream into a reality’ report, the research found that more than half (57%) would be happy for their tax to go towards smart traffic lights, and 44% for smarter signs which give real-time traffic updates. Nearly a quarter (24%) said they would also be willing to fund smart barrie
    Read More
  • March 20, 2018
    Uber’s autonomous taxi kills pedestrian, North American trials suspended
    An autonomous car operated by Uber has killed a pedestrian in what is believed to be the first death of its kind, in a report by The Independent. The vehicle, according to Tempe Police, was driving in autonomous mode as part of the company’s North America tests that included an operator behind the wheel that was not in control at the time of the incident. Uber Technologies has suspended all of its driverless car tests in Phoenix and Arizona as well as Pittsburgh, San Francisco and Toronto.
    Read More

Highlighted Content