Goldman Lost the Uber IPO, It Has a 12,000% Consolation Prize Instead
- A 2011 wager pays big even as Morgan Stanley wins lead mandate
- ‘I bear-hugged the relationship,’ Gary Cohn says of Uber ties
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Goldman Sachs Group Inc. is missing out on leading the hottest IPO in years, Uber Technologies Inc.
The consolation: a potential $600 million windfall from a mere $5 million wager that Goldman’s bankers made using the firm’s own money back in 2011, only a year after Uber had started offering rides.