All investors that held interest in Uber IPO performance before the public debut that didn’t turn out that well for Uber already knew that the company is not yet able to make a profit that would cover at least a part of losses that Uber is struggling with.

However, not many IPOs can showcase strong profits, especially among new wave of tech companies.

What Uber had to show off was a massive growth potential with presence in around 700 cities in the world.

Favorable growth metrics weren’t enough to persuade investors into buying shares even at the low end of share price estimates, which described Uber IPO as a failure after Friday, May 10^th.

Moreover, Uber IPO fail is not the only issue that the company is struggling with.

Uber on Strike Ahead of Uber IPO Debut: Uber Apps Turned Off to Protest Minimum Wages

As Uber was preparing for an already scheduled IPO debut, Uber drivers decided to turn off their ridesharing apps and start a strike in protest of minimum wages.

Around 60,000 drivers were a part of the protest, while Uber claims that the company has come to a form of a settlement with protestors, adding that the cost of the settlement is set at 170 million dollars upfront.

Discontent drivers were planning to start their protest at the same time Uber went public with their IPO, however, it yet remains unclear whether the protests affected the share price.

Uber Still Recording Losses: IPO Report from Uber Warns on Expected Losses By 1 Billion and Up

Uber is already known to be unprofitable, however, the company stated in the updated financial report ahead of IPO date on Friday that Uber expects at least 1 billion in losses on revenue of 3 billion for Q1 2019.

As losses are rising, profits are said to be expected to rise as well, where Uber claims that they expect to see Q1 2019 revenue set between 3.04 billion and 3.10 billion dollars compared to Q1 2018 when Uber generated 2.58 billion dollars in revenue.