Uber aims for $90-billion IPO valuation

Report: Uber Plans Initial Price Range Of $44-$50 Per Share (NASDAQ:LYFT)

Uber Technologies Inc. unveiled terms for its initial public offering on Friday, telling investors the ride-hailing company and insiders would seek to sell as much as $10.35 billion in stock at a valuation of up to $91.5 billion.

The ride-hailing company is planning to start marketing shares to potential investors in a price range of about $44 to $50 each, said the people, who asked not to be identified because the matter isn't public.

The valuation on Uber is notable because it values the company higher than a long list of prominent established USA companies.

In its filing, Uber estimated it lost $1.1 billion in the first quarter of 2019 of $1.1 billion on revenue of $3 billion, continuing a trend of steep losses for the San Francisco-based startup.

Uber's IPO is getting ready to hit the road.

But the pricing target - still subject to change - fell below earlier ambitions of a valuation of more than $100 billion for the firm operating in some 700 cities around the world.

Sri Lankan president Sirisena calls for resignations of defence secretary & police chief
Sirisena said during a televised speech on Tuesday that he planned to change the head of the defense forces within 24 hours. Relatives weep near the coffin with the remains of 12-year Sneha Savindi, who was a victim of Easter Sunday bombing at St.

In March, ride-hailing rival Lyft Inc. raised US$2.34 billion in its IPO - the year's biggest so far - amid a swarm of listings by tech-related companies including Pinterest Inc. and Zoom Video Communications Inc.

PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources.

In recent years, Uber has expanded its business with services like Uber Eats, a food delivery platform, which Jannarone noted also operates in a "hyper competitive" space.

The investor roadshow will kick off in earnest on Monday, setting the stage for Uber to debut on the New York Stock Exchange in early May. Like Uber, it posted a huge valuation based on investments by venture capitalists. Uber was valued at $76bn in a private fundraising in August.

Like Lyft, Uber will go public as an unprofitable company.

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