The World’s largest ride hailing giant, Uber Technologies, is going IPO (Initial Public Offering) and everyone has their eyes on it. As per the expectation, this is going to the World’s largest IPO of $91.5 Billion. It would be the biggest IPO in the public offerings, standing in front on the line against the Staggering AliBaba’s offering of over $26 Billion in 2014.
Before the Uber IPO, the riding giant is going unprofitable in the terms of revenue. In a recent financial report by the Company filed, on Friday, the company reported a total net loss of $1 Billion in the first quarter of this year.
UBER IPO AIMS FOR $91.5 BILLION
For investors that were highly excited about the Uber IPO are already questioning their decision that if such is to be made, how would this investment be beneficial for them at such stage when the company is already being unprofitable at their highest growth line.
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The Company’s Crises are on the rise as the drivers are having low wage issues, lack of benefits and the Drivers in the United States are planning a protest on May 8.
Ahead of the Initial Public Offering, Uber announced to the Security and Exchange Commission filing on Friday that they are expected to pay $300 million to 1.1 million drivers worldwide.
Other than this, Uber has reserved 5.4 million shares for the drivers who have minimum completed 2,500 trips and are qualified for the Drivers Appreciation Reward.
Uber is looking forward to raise total just $9 Billion in cash, after announcing their IPO under the symbol “UBER”.
As per the expectation, per share price of the offering will be ranging from $44 to $50. And, this IPO is most likely to bring billions to its top shareholders.