Uber chose the worst possible week to have its IPO, and the bad timing will cost it billions

Ozzyoz

Well-Known Member
In the stock market, timing is everything. For Uber, it turns out, the timing of its initial public offering could have been a lot better.

The app-based taxi giant went public on Thursday, pricing its stock at $45 a share. The price was near the bottom of the $44 to $50 a share range it had planned for, giving the company a market value of about $75.5 billion.

 

RabbleRouser

Well-Known Member
It will cost the working poor drivers more
The poor always pay the price throughout history

Uber’s own press release indicates drivers will suffer more than anyone.
Passengers are King, Drivers are disposable. Cut driver pay & incentives.
Results: more newbies sign up (if history is any indication)

As we (Uber) aims to reduce driver incentives to improve our financial performance, we expect driver dissatisfaction will generally increase,” the company said. It also noted that as it continues to invest in self-driving cars, “it may add to driver dissatisfaction over time, as it may reduce the need for drivers.”
 
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