Uber preparing for 2019 IPO and valued at $120 billion.

18 Oct 2018_campuscad


US ride-hailing giant Uber is preparing for 2019 IPO and Valued at $120 billion which is more than combine valuation of GM, Ford and Daimler.

First reported by Wall Street Journal, Valuations are submitted by Goldman Sachs and Morgan Stanley. Ride hailing startup will be listed at New York stock exchange in 2019 if IPO goes as planned by the company.  

Company raised more than $22 billion till date and last investment of $500 million was done by Toyota to develop self driving tech at $72 billion valuation.

Newly appointed CEO Dara Khosrowshahi has been working on cleaning the company reputation from 2017 as startup was involved in series of scandals including workforce sexual harassment, Ousted CEO and Founder Travis Kalanick, business practices etc.Amazon ad

Uber single largest share holder is Japan’s Softbank who owns around 16% of the share with Saudi royal family owns 14% of the Uber with $3.5 billion investment.

Startup lost more than $4.6 billion in 2017 alone and recently planned the launch of Uber air taxis by 2025.

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