Uber IPO applies the brakes
Uber’s highly anticipated IPO was a write-off, as its shares slid 7.6% on its first day as a publicly listed company. Will the wheels fall off completely or does Uber have 5-star potential? Make your call now.
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Uber IPO: key facts
Uber IPO: key facts
Founded in 2009, the San Francisco-based ridesourcer helped disrupt and create an entire industry. Despite Uber’s huge global reach and diversification into food delivery and bicycle-sharing services, investors were unconvinced with its potential profitability. Ultimately, this saw its market cap collapse from an estimated USD 120 billion to USD 82 billion after listing on 10 May. Uber’s CEO has moved to reassure investors over its falling price, claiming its success should not be measured ‘over a day’ but ‘over the years’.
Company name: Uber Technologies Inc.
Ticker symbol: UBER
Exchange: New York Stock Exchange
Listing date: 10 May
Price: USD 45
Filing amount: USD 8.1 billion
Shares offered: 180 million
Exp. market cap: 82 billion
Available as: Cash Stock and single stock CFD
Our experts’ take on IPOs
DoorDash is Dominating the U.S. Food Delivery MarketAmerica's food delivery market has boomed in recent years with growth accelerated by the COVID-19 pandemic. The graphic below shows the biggest players in the space and how their market share has changed in recent years. Of note, the market is shifting from an oligopoly, where market control was shared amongst four companies, to more of a duopoly setting between DoorDash and Uber Eats, with the former now dominating with a market share of over 50%.
DoorDash is Dominating the U.S. Food Delivery Market
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