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Shira Ovide

Uber Employees May Not Be in a Partying Mood

The reality of the tech company’s IPO may not live up to their dream of startup riches.

Think Uber empolyees are about to hit the jackpot? Think again. 

Think Uber empolyees are about to hit the jackpot? Think again. 

Photographer: Jeenah Moon/Bloomberg

Much has been written about who stands to make a fortune and who won't from Uber Technologies Inc.'s coming initial public offering. One constituency that has been largely overlooked is Uber's rank-and-file employees, for whom the IPO isn't necessarily a wildly happy milestone. 

Uber's share price has been relatively flat in its significant stock sales to private investors since the middle of 2016 at about $49 a share, according to an analysis by EquityZen, which has a marketplace for trading employee stock in startups. The company is expected to price its IPO late Thursday, and it may be at roughly the same share price or a bit lower. In other words, Uber's share price hasn’t budged in nearly three years.