The Uber IPO Day Is Finally Here
Also Vision Fund II and common ownership.
Here’s kind of a weird fact about Uber Technologies Inc. In December 2015, it raised money from a bunch of investors in a private fundraising round that valued it at about $62.5 billion, according to reports at the time. It sold that stock to those investors at a price of about $48.77 per share, according to Uber’s prospectus for its initial public offering,1 which prices this evening.
As you’d expect—it’s three years later, Uber has grown a lot in those three years, it’s finally mature enough to go public, it’s accessing a wider investor base, etc.—that IPO will be done at a higher valuation. At the midpoint of Uber’s marketing range, where the deal is expected to price, Uber will have a market capitalization of about $79 billion, or a fully diluted value (including stock options, etc.) of $86 billion, significantly more than $62.5 billion.