May 09,2019

Everyone’s Private Driver: How Uber First Pitched Itself to Investors

Uber’s (UBER) initial public offering is one of the largest in recent U.S. history, marking a milestone for investors, who have weathered the ride-hailing company’s significant ups-and-downs.

Since Travis Kalanick, Garrett Camp, and Oscar Salazar founded Uber in 2009, the San Francisco-based ride-hailing business has raised almost $25 billion from at least 95 investors, including First Round Capital, Sequoia Capital, TPG Growth, Microsoft (MSFT), and PayPal (PYPL). Those investors are poised to win big after Uber goes public on Friday.

On Thursday, the company priced its IPO at $45 per share. At that price, the company raised $8.1 billion at a valuation of $82.4 billion. Uber got off to a bad start on Friday when it traded below its $45 IPO price.

Read the full article here.

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