Buckle Up, Uber IPO Investors
Keep arms, legs and expectations inside the vehicle at all times.
It’s going to be a wild ride.
Photographer: Daniel Berehulak/Getty Images EuropeThe Unicorn Gardens amusement park will soon launch its biggest, most thrilling roller coaster yet: The Ubernator.
Uber Technologies Inc. last night filed IPO documents full of ginormous numbers: $11.3 billion in 2018 net revenue, $3 billion in operating loss, 3.9 million drivers. Even the filing was big, at 368 pages. The company could sell $10 billion in stock valuing it at $100 billion, making it far and away the biggest of the “unicorns” — private companies worth $1 billion or more — to sell tickets to the public. All very exciting, but also more than a little risky, writes Shira Ovide: This stock is a long-term bet on a company that has lost money for a decade. It’s sprawling, with many possible ways to make money, but if or when that happens is anybody’s guess.