Shares in ride-hailing giant Uber began trading on the New York Stock Exchange today, after the firm priced its stock at the lower end of its target range. Uber priced its initial public offering (IPO) at $45 per share after setting a range of between $44 and $50. Read more: Uber's float is a huge gamble on the future of transport The float gives the firm a valuation of $82.4bn (£63.2bn), significantly below previous forecasts of $120bn. However, it is still expected to be one of the largest IPOs of the year. The cautious float comes after rival app Lyft suffered a turbulent period of trading in the weeks after its IPO at the end of March Lyft priced strongly at $72 per share, but is now trading at just $54 amid concerns about the loss-making company’s plan for turning a profit. Uber’s conservative pricing suggests it is hoping a more risk-averse approach will boost investor confidence and generate a more enthusiastic reception. “Uber’s IPO divides the … [Read more...] about Uber shares debut on New York Stock Exchange in $82.4bn IPO
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Collaboration tool Slack has confidentially filed to float on the New York Stock Exchange. The messaging app will join the stock market under the ticker symbol SK this summer, in either May or June, according to its filing. Slack, which was last valued at over $7bn (£5.4bn), is credited with revolutionising workplace communication with its collaborative tool, which aims to kill off internal office email. It is the latest in a rush of tech IPOs happening this summer, following Tesla revealing earlier today that it will aim to hit a $90bn valuation when it debuts. Pinterest also filed for a $12.7bn IPO last week, while Uber rival Lyft has performed poorly since its own float, dropping 22 per cent from its initial valuation of $72 per share. More to follow. … [Read more...] about Slack files for IPO as it targets New York Stock Exchange debut
Nate Davis USA TODAY Published 6:11 AM EDT Apr 5, 2019 The New York Jets unveiled their new uniforms Thursday night, Nike's latest disappointing collaboration with an NFL team seeking to modernize its image. Anybody who's an Air Jordan aficionado — I'm one — will tell you, despite the footwear and apparel giant's many classics from years gone by, the new looks and reboots leave something to be desired with common frequency. Jets brass bragged that their overhaul — if you can even call it that — was five years in the making. This vast planning and creative effort amounted to a slightly modified logo, different font for the numbers and a new shade of green — "Gotham Green" (whoa!!) — hitched to "Spotlight White" and "Stealth Black," which are pretentious names for ... white and black. Oh, "New York" has also been added to the jersey of a team that's headquartered and plays its home games ... in New Jersey. … [Read more...] about NFL uniforms ranked 1-32: How does New York Jets’ new jerseys rate?
Uber Technologies is expected to list on the New York Stock Exchange in April, according to sources cited by Bloomberg. Its rival Lyft is preparing to list on Nasdaq, which is where most other major tech companies are listed. The NYSE, however, has had some of the world’s biggest IPOs, including Alibaba and General Motors. Uber’s valuation may be as high as USD 120 billion, and it is launching its IPO in a period when investors have shown strong appetite for new listings. … [Read more...] about Uber to list on New York Stock Exchange, may reach USD 120 billion valuation
Uber is reportedly set to list on the New York Stock Exchange as it gears up for what is expected to be one of the biggest stock market debuts of 2019. Read more: High Court strikes down black cab appeal against Uber's London licence The ride-hailing app’s initial public offering (IPO) is due in April, but the tech firm will pick Wall Street over the Nasdaq home of many US tech giants, according to Bloomberg. The IPO could value Uber at as much as $120bn (£91.4bn). The debut would mark a turnaround under current chief executive Dara Khosrowshahi, who took over the company after founder Travis Kalanick was forced to step down in the wake of multiple controversies. Those included allegations that Uber deployed software to avoid regulators, as well as a huge review of its culture following accusations of endemic sexism and a data breach affecting 57m drivers. Uber lost its London operating licence following the revelations, but has since regained a temporary licence that lasts … [Read more...] about Uber ‘picks New York Stock Exchange’ for IPO over FAANG favourite Nasdaq