Uber set its debut stock price toward the bottom of its range at $45 per share. The company will raise roughly $8 billion with a market value of $82 billion, falling short of what investors once hoped would be a $100 billion valuation.
At $45 per share, it would need to gain 22%+ in the next three months. https://t.co/44ztkCSQT3
— Dan Primack (@danprimack) May 9, 2019
The IPO comes at an interesting time for the company. Its rival Lyft just went public, raising $2.34 billion, and many are questioning whether either company can become profitable.