No surprise….
Despite the brand name recognition?
The company has been losing over a billion dollars a year since it started up….
Over the past decade, Uber changed urban transportation, disrupted entrenched taxi industries, defied regulators the world over and beat back questions about how it was altering the nature of work.
On Friday, it was tamed by Wall Street.
The ride-hailing giant’s first day of trading on the New York Stock Exchange began with a drop from its initial public offering price of $45, and its stock closed down 7.6 percent. By the end of Friday, Uber’s market capitalization, accounting for stock options and restricted stock, stood at $76.5 billion — barely above the $76 billion that private investors pegged it at in August.
| MAJOR SHAREHOLDERS | SHARE VALUE | |
|---|---|---|
|
SoftBank Vision Fund
Japanese investment fund
|
$9.3b | |
|
Benchmark Capital
Venture capital firm
|
$6.3b | |
|
Travis Kalanick
Co-founder and former C.E.O.
|
$4.9b | |
|
Garrett Camp
Co-founder
|
$3.4b | |
|
Saudi Arabia Public Investment Fund
Sovereign wealth fund
|
$3.0b | |
|
GV
Venture capital arm of Alphabet
|
$3.0b | |
|
Ryan Graves
First C.E.O.
|
$1.4b | |
|
Dara Khosrowshahi
Current C.E.O.
|
$8m | |
Its stock tumble, which was highly unusual for what are typically carefully calibrated offerings, immediately raised questions about investor appetite for other money-losing tech start-ups that are poised to list their shares. It also pointed to miscalculations by the Wall Street banks that had taken Uber public and signified a disappointment for Dara Khosrowshahi, the chief executive, who was hired partly to steer the company through a successful I.P.O.
Few firms of Uber’s stature have stumbled so badly out of the gate as a public company…
Uber made over a billion dollars anyways today….
Notice who has also made money with their inside holding….
image..techcrunch.com