A Tough IPO For Uber?

The ride-sharing juggernaut has revised down the value it proposes for its initial public offering by about 30%, to between US$80.5 to US$91.5 billion. This follows sharp falls in recently listed rival Lyft since its IPO. There are concerns over intensifying competition, high operating costs and the fact that since launching services in July 2010, Uber is yet to make a profit.

Further Reading

Uber seeks $91.5bn valuation in this year’s largest IPO