Uber is set for its Wall Street debut Friday with a massive share offering that is a milestone for the ride-hailing industry and the so-called “sharing economy,” but which comes with simmering concerns about its business model.
Shares will be priced at $45 for the initial public offering (IPO), valuing the startup at more than $82 billion, according to a filing with the US Securities and Exchange Commission.
San Francisco-based Uber was set to begin trading on the New York Stock Exchange under the eponymous ticker “UBER” in one of the largest initial public offerings in the tech sector.
Despite the eye-popping valuation, Uber dialled back some of its earlier ambitions for a value exceeding $100 billion after a rocky start for US rideshare rival Lyft.
Analyst Daniel Ives of Wedbush Securities said Uber has the potential to be a game-changing company and “is paving a similar road to what…
Source: News Agency of Nigeria
