This filing puts Uber on track to make its trading debut in May on the New York Stock Exchange in what is anticipated to be this year’s biggest IPO in the United States. Uber filed documents with the Securities Exchange Commission (SEC) on April 12th, the day which would be remembered as a day of a possible milestone for Uber. The industry leader has plans to offer ‘180 million shares at $44 to $50’ each, confirms a source.
Collaboration with PayPal
PayPal is in agreement to purchase Uber’s stocks worth $500 million at the IPO price in a private placement. The said investment marks the collaboration of PayPal with Uber. Both the giants plan to collaborate and work together to build a digital wallet for Uber, a spokesman from PayPal quoted.
Lyft – Another successful IPO!
Lyft shares made its market debut in the third month of 2019 at a ‘$20.5 billion valuation.’ This March witnessed another ride-hailing rival Lyft going public by raising $2.34 billion in its IPO.
Uber’s founders Garrett Camp and Travis Kalanick plan to sell portions from their holdings. Morgan Stanley, Goldman Sachs Group and Bank of America Corp are leading the offering for Uber.
Uber’s IPO is estimated to be ‘one of the 10 largest U.S. IPOs in history’ and the largest since Alibaba’s $25 billion in the year 2014. A few other startups have plans to go public, few names include Slack Technologies, Postmates, Palantir Technologies, and Airbnb.
This lets you dream, doesn’t it?
When companies reach such great heights, it’s time to realize your dreams as an entrepreneur and start the journey towards the business you always wished to pursue. If you wish to be the next Uber (yes, we are talking about billions here) then do share your thoughts with us. We are here to help your business with exponential growth.