Uber Technologies IPO – What you need to know

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The IPO

Uber filed for an IPO with NASDAQ under the symbol “UBER”.

Uber Technologies plans to raise $8.5 billion by offering 180 million shares at a price range of $44.00 – $50.00. Uber Technologies market capitalization would be $78 billion.

Uber’s offering is being led by Morgan Stanley, Goldman Sachs Group Inc. and Bank of America Corp. The IPO is expected to price on May 10, 2019.

The Business

Every minute of every day, consumers and Drivers on our platform can tap a button and get a ride or tap a button and get work. Uber revolutionized personal mobility with Ridesharing, and Uber is leveraging our platform to redefine the massive meal delivery and logistics industries. While Uber had unparalleled growth at scale, Uber is just getting started: only 2% of the population in the 63 countries where Uber operate used their offerings in the quarter ended December 31, 2018, based on MAPCs.  

Uber has booked a revenue of $11.3 billion with a net income of $997 million as of end of December 2018.

The IPO is expected to trade on NYSE on May 10, 2019