Uber braced for second day of trading after IPO takes a wrong turn May 13, 2019 Uber is braced for its second day of trading on the New York Stock Exchange today after its shares veered off course in a disappointing initial public offering (IPO) on Friday. Shares in the lift-hailing giant closed down 7.6 per cent after its $82.4bn (£63.2bn) float failed to impress investors last week. Read more: Four [...]
From low expectations to future hopes: Four things we learnt from Uber’s stock market debut May 11, 2019 It was billed as one of the most anticipated initial public offerings (IPOs) in years, but yesterday Uber's investors were left disappointed when it set sail on the public markets for the first time. Here are four things we were looking out for during yesterday's trading. Read more: Uber shares begin NYSE trading in $82.4bn [...]
Uber shares debut on New York Stock Exchange in $82.4bn IPO May 10, 2019 Shares in ride-hailing giant Uber began trading on the New York Stock Exchange today, after the firm priced its stock at the lower end of its target range. Uber priced its initial public offering (IPO) at $45 per share after setting a range of between $44 and $50. Read more: Uber's float is a huge [...]
Uber’s float is a huge gamble on the future of transport May 10, 2019 Every time you jump into an Uber, your ride is essentially subsidised by venture capitalists who prop up the loss-making outfit in the hope of riches down the road. Later today in New York, many more hopefuls will get the chance to back the immensely-popular-yet-controversial tech firm when it finally comes to market. Similarly [...]
Uber prices at the bottom of its IPO range to be valued at $82.4bn May 9, 2019 Ride-hailing giant Uber has priced its initial public offering at $45 per share, landing at the lower end of its targeted range to raise $8.1bn (£6.2bn) in a Wall Street flotation on Friday afternoon . The pricing assigns Uber a valuation of $82.4bn, significantly lower than the $120bn valuation predicted by its investment bankers last [...]
Softbank gears up for launch of second Vision Fund as full-year profits soar May 9, 2019 Japanese investment giant Softbank will launch its eagerly-awaited second Vision Fund soon, the firm’s founder and chief executive has revealed. Read more: Softbank mulls float for $100bn Vision Fund Masayoshi Son said the new fund will be a similar size to its original $100bn (£77bn) Vision Fund, which has invested in major tech firms including [...]
DEBATE: With Uber drivers striking over pay and conditions, is the gig economy bad news for workers? May 9, 2019 With Uber drivers striking over pay and conditions, is the gig economy bad news for workers? Dalia Gebrial, researcher on the gig economy and workers’ rights at the London School of Economics, says YES. The gig economy is currently rigged against workers. Platforms like Uber hide behind their status as tech firms, rather than employers, to [...]
‘Orgy of greed’: Uber drivers go on strike one day before IPO May 8, 2019 Drivers of ride-hailing platform Uber have gone out on strike today in protest over unfair pay and workers rights. The strike, which is intended to run between 7am and 4pm, comes ahead of the company’s initial public offering. The IPO, scheduled for Friday, values the company at as much as $90bn (£69bn). Read more: Uber [...]
Gett eyes 2020 flotation and profitability as it raises $200m at a $1.5bn valuation May 8, 2019 Taxi-hailing firm Gett said it has raised $200m (£153m) in additional funding yesterday, with a flotation on the cards “as soon as the first quarter of 2020”. It added it is on track to become operationally profitable globally by the fourth quarter of this year, including its US operation. Read more: Uber drivers to stage [...]
Uber drivers to stage nationwide protest tomorrow before headline IPO May 7, 2019 Uber drivers are gearing up for a national boycott of the app tomorrow ahead of the firm's highly anticipated public listing later this week. Uber drivers in London, Birmingham, Nottingham and Glasgow will not log into the app between 7am and 4pm tomorrow to protest at the IPO, which they claim will result in payouts to venture capitalists [...]