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.

 

Urban Traffic Control

For more information on companies in this article

Related Content

  • Worries as Huawei given role in UK’s 5G network
    April 24, 2019
    Alarm has been expressed by MPs over the UK government’s decision to allow Chinese firm Huawei to work on the UK’s 5G network. Prime minister Theresa May has banned Huawei from supplying ‘core’ parts of the country’s 5G infrastructure – but is believed to have given the green light for it to help deliver what are being called ‘non-core’ parts. As well as being for mobile phones, 5G is the technology which will be used to improve connectivity of autonomous vehicles and traffic controls. However, there ar
    Read More
  • ACS debuts Alcolock V3 alcohol ignition interlock device
    October 23, 2012
    Making its ITS World Congress debut is Canadian company ACS – Alcohol Countermeasure System – with its Alcolock V3 alcohol ignition interlock The device has been around since 2008 and requires drivers to breath into the device before setting off on a journey. If the driver’s breath contains alcohol, the engine ignition system will not work. (Residual amounts of alcohol, such as those found in some mouthwashes, are allowable.) It has been mandatory for Alcolock to be fitted to public vehicles in Sweden such
    Read More
  • Coronavirus: Uber suspends North America shared rides
    March 18, 2020
    Uber is suspending shared rides on its platform in the US and Canada in a bid to reduce the spread of coronavirus.
    Read More
  • Redflex ‘does not expect further action’ from US Department of Justice
    January 18, 2019
    Traffic enforcement specialist Redflex Holdings says it expects no further legal action or new financial liabilities arising from investigations by the US Department of Justice (DoJ). The action, which has rumbled on for several years, related to misconduct by former employees of US subsidiary Redflex Traffic Systems. The company signed a two-year non-prosecution agreement (NPA) with the DoJ, which has now ended. Under the expired deal, the DoJ agreed not to charge the firm with any offence provided t
    Read More

Highlighted Content