Tag: Business

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Uber-rich: the wealthy people who will get even wealthier from IPO

Uber on Thursday priced its shares at $45 each on its Wall Street debut, valuing the company at a disappointing $80.4bn. While its value could rise on the first day of trading, the figure is well below Uber’s initial $100bn target as investors got the jitters about the lacklustre performance of the float staged by…
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May 9, 2019 0

Uber valued at $82.4bn as it prices IPO at $45 per share

Uber is seeking a valuation of $82.4bn, less than the $100bn it was hoping for, but still making it one of the largest IPOs of all time, and one of the most hotly anticipated stock market listings in the tech world since Facebook made its Wall Street debut seven years ago.


May 9, 2019 0

Loss-making Uber does not look like a business worth $90bn

Good luck to those Uber workers protesting about wages and working conditions. They picked their moment to coincide with this week’s IPO in New York, in which the company is set to be priced at $90bn (£70bn) or thereabouts, and they chose well. You do not have to be a bleeding heart liberal to think…
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May 8, 2019 0

The Uber drivers forced to sleep in parking lots to make a decent living

Every Saturday morning before the sun rises, 35-year-old Uber driver Sultan Arifi rolls up the sleeping bag in the front seat of his car, places it in the trunk, and prepares for another day of work. He will spend the next 12 hours picking up as many passengers as he can on the streets of…
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May 8, 2019 0

Uber drivers in UK cities strike over pay and conditions

Hundreds of Uber drivers in Britain are to go on strike as part of an international protest against pay and conditions on the eve of the ride-hailing app’s stock market flotation. Drivers in London, Birmingham, Nottingham and Glasgow plan to withhold their services between 7am and 4pm on Wednesday, with some expected to protest outside…
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May 7, 2019 0

‘They treat us like crap’: Uber drivers feel poor and powerless on eve of IPO

A lot of very rich people will get even richer when Uber goes public on 9 May in one of the most anticipated initial public offerings (IPO) to hit the stock market in 2019. Travis Kalanick, Uber’s founder, could see his 8.6% stake in the company valued at close to $8bn if the company is…
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May 7, 2019 1