The biggest IPO of 2019 UBER IPO has been announced finally. At the opening sale that started on Thursday, May 9th, Uber started at the price of 45$, soon going down below the initial price and touching 41$ per share at the closing.
While Uber’s competitor, another prominent ridesharing company, Lyft, already went public at the end of March under the thicker (LYFT), raising 2.3 billion dollars at the price of 72$ per share, investors are eager to see whether Uber will encounter an equal enthusiasm in the market once the company goes public.
Uber raised 8.1 billion dollars with their IPO in oppose to the expected 9 billion, while market capitalization of Uber now stands at 76.5 billion dollars.
Private investors evaluated the company at 76 billion, however, final evaluation for Uber was said to be set between 90 and 100 billion dollars, previously suggesting that Uber is worth at least 120 billion. Uber is said to be the biggest public offer in the market in 2019.
Uber IPO Preparations: Uber should be the biggest IPO of 2019
According to Bloomberg, the ridesharing giant, Uber should be the biggest IPO of 2019 with 10 billion dollars in estimates for their public offer and one of the 10 biggest IPOs of all times.
Uber also released their financial reports for 2018 back in February, announcing that the company managed to generate 50 billion in gross bookings during 2018, which is 45% higher than the gross booking metrics for 2017.
The ridesharing giant is also working on self-driving robots that should work on food deliveries for UberEats, additionally planning on expanding the business to food and freight delivery on bicycles and motorcycles.
Even though Lyft gained an advantage by going public weeks before Uber announced their public filing for IPO, many watchdogs of the market consider that Lyft is still Uber’s “little brother”.