Uber sets $44-$50 per share for IPO, prices it hopes will value the ride-share start-up between $80 billion and $90 billion
The entrance sign to the Uber Greenlight Hub is seen in the Brooklyn borough of New York, US. April 12, 2019.
Uber also said PayPal had agreed to purchase $500 million of stock in a private placement at the price the IPO eventually settles at. In the filing, Uber also reported a net loss attributable to the company for the first quarter of 2019 of around $1 billion and revenues of roughly $3 billion. Uber will face a host of questions from investors, including when it may turn a profit, how it will navigate the transition to autonomous vehicles and whether its business model can support higher driver costs from minimum wage rules.
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