Uber has opened capital on the New York Stock Exchange in one of the most anticipated releases this year. The company raised $ 8.1 billion from the sale of shares, priced at $ 45 each.
With the initial sale of shares (IPO), the company was valued at $ 82.4 billion. The amount raised was the ninth largest of an IPO in the US and the highest since Alibaba went public in 2014 and raised about $ 21.8 billion.
See the largest capital openings in US history:
Alibaba – US $ 21.8 billion (2014)
General Motors – $ 20.1 billion (2010)
Enel – US $ 19 billion (1999)
Visa – US $ 17.9 billion (2008)
Facebook – $ 16 billion (2012)
Deutsche Telekom – $ 13 billion (1996)
AT & T – $ 10.6 billion (2000)
Kraft Foods – $ 8.6 billion (2001)
Uber – US $ 8.1 billion (2019)
Uber’s entry into the stock market also shows the maturation of technology companies that emerged at the time of the applications, after the emergence of smartphones. Other large IPOs of this period were from companies like Snap and Lyft, a competitor of Uber.
Founded in 2008 to try to solve the simple problem of ordering a car, the company was known for its aggressiveness in new markets and for the model that inspired other startups – many of them succeeded the company trying to be “the new Uber” in other sectors that also they needed innovation.
Although Uber is opening up capital, the company’s numbers are still quite in line with startups that spend a lot to retain customers and gain market share.
In the documents submitted to the US authorities, the company showed a loss of more than $ 3 billion in operations in 2018, and a total loss of about $ 1 billion in the first quarter of this year.
According to analysts Gene Munster and Will Thompson of investment firm Loup Ventures, the application transportation industry continues to transition from the network model of drivers to the “transport as a service” model.
“We believe that this transition, especially with regard to the autonomy [of cars], will be longer and more impactful than people think. The expectation is that 2019 will bring heavy investments and unpredictable actions in the short term,” wrote the authors. analysts in note.
Analysts also said that in the long run, companies like Uber and Lyft “will be successful in capitalizing on an industry that sees the model migrate from car ownership to service-based transportation.”
While analysts are optimistic in the long run, Uber tries not to repeat the fate of rival Lyft. The company debuted at the end of March and, with a quarterly result of major losses, fell 11% on Wednesday (8). Lyft has since lost 37% of its market value since it opened its capital.
The current market momentum, with investors’ caution from trade tensions, also did not help the company, which won the first shares near the minimum value of the price range, which was between $ 44 and $ 50. Initially, Uber expected to be estimated at close to US $ 100 billion, which did not come true.