Uber Aims for Valuation of 91.5 Billion dollars at the Upcoming IPO. Taxi company Uber hopes for a valuation of 91.5 billion dollars at the upcoming IPO.
It is stated in documents that the company has submitted before the IPO.
The expected cost is a lot lower than the 120 billion dollars that were assumed last year.
The lowering of the expectation is not remarkable when it is seen in the light of the earlier IPO of competitor Lyft.
That share has fallen in value by 20 percent since the IPO.
Uber aims for a price between 44 and 50 dollars and will sell 180 million shares on the stock exchange.
With this, the company needs to raise around 9 billion.
Another 27 million shares are being sold to existing shareholders. It grows around 1.35 billion.
The company also reports that PayPal will buy half a billion dollars in shares.
An investor like PayPal is essential to Uber.
As a result, a taxi ride in around seventy countries could be paid via the online payment service.
The development of a so-called ‘super app’ is also coming closer.
It gives customers access to multiple services,
in addition to ordering a taxi ride, such as shopping and making payments.