Uber's Big Day, Brexit's Big Delay
Uber's Big Day, Brexit's Big Delay Two stories today! Expectations for Uber's S-1 On Wednesday, April 11th (yesterday), Uber announced that it was aiming for an IPO valued at around $100 billion, while at the same time Lyft shares closed at $60.12, an all-time low, 16% lower than its IPO price of $72. The shadow of Lyft's failure looms over Uber's IPO. The poor performance of $LYFT has implications for Uber's IPO. The obvious one is that $100 billion valuation figure — it's down from a $120 billion figure that was floated a few months ago . That's a pretty big difference: $20 billion. It seems like Lyft, which is probably the only reasonable publicly traded comparable company for Uber, has lowered expectations for ridesharing IPOs. Uber most certainly does not want to suffer such a nosedive, and so it has accordingly hedged against that risk by seeking a lower valuation. But at the same time, it could be the other way around. It is quite possi
