Uber fell 7.62percent on its first day of listing, with a total market value of $69.7 billion.

category:Internet
 Uber fell 7.62percent on its first day of listing, with a total market value of $69.7 billion.


Uber landed on the New York Stock Exchange on Friday, U.S. time, offering $45 and raising $8.1 billion. It opened at $42 and failed to collect the recurrence price throughout the day.

Ubers U.S. rival Lyft fell 6.9% on Friday, down 28% from its IPO offering price.

Overall, U.S. stocks fell yesterday. In the first two hours of trading on Friday morning, the S&P 500 index fell 1.3 percentage points and the Dow Jones index fell more than 300 points. Executives at UBS IPO maker Citadel Securities said a large sell-off of shares was likely to affect market sentiment.

We think this price reflects the real market environment, UOB CEO Dara Khosrowshahi said in an interview with CNBC before the official opening of the market on Friday. We hope to use our stocks to raise funds, but we know that these funds will not come next week and will need to wait until next year or even longer.

After Uber went public, Costrossi sent an open letter to all members. In his letter, Costrossi said that when Uber turns from a private company to a listed company, their work will undoubtedly become more difficult. Everyones eyes will be on them, and they will assume greater responsibility for their customers, shareholders, cities and each other.

At the same time, Costrossi also prepared employees to respond to the increasingly stringent scrutiny of the open market and warned them not to focus on market sentiment.

In the listing application filed in April, Ubers expected share price range ranges from $44 to $50 per share. The company will issue 180 million common shares and allow underwriters to buy an additional 27 million shares.

In 2018, Ubers annual revenue was $11.3 billion, an increase of 43% over 2017, with an adjusted loss of $1.8 billion, an improvement over the loss of $2.2 billion in 2017. The company has never been profitable so far. According to the prospectus, five institutional shareholders, Softbank, benchmarking capital, Expa-1, PIF and Alphabet, the parent company of Google, hold 43.8% of Uber. In early 2018, Softbank took a stake in Uber for $7.7 billion and acquired about 15% of the shares. At that time, Uber was facing a series of crises, valued at about $48 billion. Ubers listing could yield nearly $3 billion in book profits for Softbanks vision fund. Source: Responsible Editor of Netease Science and Technology Report: Wang Fengzhi_NT2541

In 2018, Ubers annual revenue was $11.3 billion, an increase of 43% over 2017, with an adjusted loss of $1.8 billion, an improvement over the loss of $2.2 billion in 2017. The company has never been profitable so far.

According to the prospectus, five institutional shareholders, Softbank, benchmarking capital, Expa-1, PIF and Alphabet, the parent company of Google, hold 43.8% of Uber. In early 2018, Softbank took a stake in Uber for $7.7 billion and acquired about 15% of the shares. At that time, Uber was facing a series of crises, valued at about $48 billion. Ubers listing could yield nearly $3 billion in book profits for Softbanks vision fund.