What Uber’s Disappointing IPO Means for Other Tech IPOs This Year
Uber’s (UBER) disappointing initial public offering on Friday may be good reason for other tech companies going public this year to be concerned.
The ride-hailing company priced its shares at $45 per share, raising $8.1 billion and giving it a valuation of over $82 billion. It ended Friday 7.6% lower at $41.57 per share — a disappointing Wall Street debut for the most highly anticipated tech IPO of the year despite Uber’s relatively conservative approach with its IPO pricing.
Although at least 10 companies this year went public and opened lower than their IPO prices, Uber was the first company ever with a $4 billion-plus offering to do so, according to data provided by Dealogic.
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