Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> > >

Uber Secures $1 Billion Ahead of Stock Market Debut

One News Page Staff Saturday, 20 April 2019
Uber Secures $1 Billion Ahead of Stock Market Debutby 👩‍💻 Alice Monroe

Following a tumultuous few years for the taxi-hailing brand, Uber looks set to launch itself on the stock market with a lucrative investment of at least $1 billion. The reason for such investment, CNN Business reveals, is its forthcoming self-driving taxi service, which will be looking to make use of AI driving technology in the years to come.

It’s been reported by Uber that, ahead of their first foray into the public markets, both the SoftBank Vision Fund and Toyota had helped to inject a generous cash sum into the firm, which rounds up the value of the Uber Advanced Technologies Group to a cool $7.25 billion.

“This investment and our strong partnership with the Toyota Group are a testament to the incredible work of our ATG team to date, and the exciting future ahead for this important project, alongside great partners,” Dara Khosrowshahi, Uber CEO, advised in a statement.

“The development of automated driving technology will transform transportation as we know it, making our streets safer and our cities more livable.”

Uber Has Raised $1 Billion For Its Self-Driving Unit
Uber Has Raised $1 Billion For Its Self-Driving Unit [video]

Toyota has previously invested at least $500 million into Uber in recent times, having themselves advised that they would be showing some commitment towards autonomous car technology. However, Uber is still a firm which has been dogged by certain controversies in recent years. Outside of concerns relating to workplace culture and driver vetting, an Uber SUV – a driverless unit – hit and killed a pedestrian in 2018. The company, however, was not pursued for criminal charges.

Despite problems Uber’s brand has had in the public eye since 2016, considerable faith in the brand continues to push it towards what will be an enormous float. Uber had only recently advised that they would be approaching the public market for the first time, and despite the company having recorded losses of $1.8 billion in 2018, there appear to be plenty of shareholders willing to push the brand as it launches its IPO.

Uber Files to Go Public in What Could Be One of Biggest IPOs
Uber Files to Go Public in What Could Be One of Biggest IPOs
[video: Newsy Studio]

Driverless or autonomous cars look set to become a common feature on our roads in years to come. While there are already some vehicles operating without drivers, the technology will take some time before it is easy to spot on roads and freeways across the world. Google have already entered the driverless car game, while Apple is allegedly considering its options. Will Uber lead the way in autonomous road technology? Let’s wait and see.

By The End Of 2019, Waymo, Uber, And GM All Plan To Have Fleets Of Autonomous Cars Providing On-Demand Rides
By The End Of 2019, Waymo, Uber, And GM All Plan To Have Fleets Of Autonomous Cars Providing On-Demand Rides [video]

0
shares
ShareTweetSavePostSend
 
Credit: Wochit Business - Published < > Embed
News video: Pinterest Shares Surge In Market Debut After IPOs

Pinterest Shares Surge In Market Debut After IPOs 00:35

According to Reuters, shares of Pinterest surged 25 percent in their debut on Thursday, giving the online scrapbook company a market capitalization of $15.8 billion. The successful debut bodes well for the U.S. IPO market as it readies for the much-awaited listing of ride-hailing giant Uber...

Recent related videos from verified sources

Why Investors Should Keep an Eye on Nvidia, Pinterest and Luckin [Video]Why Investors Should Keep an Eye on Nvidia, Pinterest and Luckin

It's finally Friday. Action Alerts PLUS senior analyst Jeff Marks joins TheStreet to break down some of the top headlines in the market. Nvidia Post-Earnings Real Money Stock of the Day Nvidia ..

Credit: The Street     Duration: 06:07Published

Why Uber Missed Its $120 Billion Valuation [Video]Why Uber Missed Its $120 Billion Valuation

Business Insider reports that Uber wanted to go public with the $120 billion valuation. The valuation was pitched by bankers at Morgan Stanley and Goldman Sachs ahead of its initial public..

Credit: Wochit     Duration: 00:37Published

Walmart Says It's Monitoring The Tariff Discussions; Posts Mixed Results [Video]Walmart Says It's Monitoring The Tariff Discussions; Posts Mixed Results

Walmart on Thursday posted mixed first-quarter results, and said it was keeping an eye on the trade talks between the US and China. Shares were up 1.3% ahead of the opening bell. The US's largest..

Credit: Wochit Business     Duration: 00:53Published

05-15-19_JC_SOD_MACYS [Video]05-15-19_JC_SOD_MACYS

Macy's is Real Money's Stock of the Day following the release of its earnings before the bell Wednesday. Macy's said earnings for the three months ending in March came in at 44 cents per share, down..

Credit: The Street     Duration: 02:48Published

What You Need to Know About the Markets, Macy's, Tilray, and Aurora Earnings [Video]What You Need to Know About the Markets, Macy's, Tilray, and Aurora Earnings

Let's dive into the markets, Real Money's Stock of the Day Macy's and the cannabis sector. What's Going on in the Markets? After all of the trade news we've gotten this week, and the market reaction,..

Credit: The Street     Duration: 08:07Published

Nvidia, Walmart Earnings Prep -- ICYMI [Video]Nvidia, Walmart Earnings Prep -- ICYMI

Be prepared -- earnings reports from two companies that have a combined $388 billion in market cap are being released soon. Nvidia Nvidia reports earnings on Thursday May 16 after the closing bell...

Credit: The Street     Duration: 03:20Published

Uber's CEO sent an email to employees regarding IPO [Video]Uber's CEO sent an email to employees regarding IPO

On Monday Uber CEO Dara Khosrowshahi sent an email to employees, addressing the ride-hailing giant's brutal stock-market debut. Business Insider reports that in the letter he noted that while the..

Credit: Rumble     Duration: 00:34Published

Uber down $14 Billion since Friday [Video]Uber down $14 Billion since Friday

Ride-sharing company Uber has had another rocky day on Wall Street. Gizmodo reports that the car service companies disappointing IPO is becoming disastrous, falling an additional 10.8 percent in its..

Credit: Rumble     Duration: 00:38Published


Recent related news from verified sources

Lyft is tanking as Uber gets ready to make its stock-market debut (LYFT, UBER)

Lyft is tanking as Uber gets ready to make its stock-market debut (LYFT, UBER)
· *Lyft shares were sliding on Friday morning as traders readied for rival Uber's initial public offering.* · *Shares were trading down as much as 9% in...
Business Insider

Stalled out: Why the rush of IPOs from big, unprofitable companies like Uber and Lyft could throw the entire market off track

Stalled out: Why the rush of IPOs from big, unprofitable companies like Uber and Lyft could throw the entire market off track
· After Uber endured a tough stock market debut and as Lyft struggles, Michael Arone of State Street Global Advisors says more pain for Silicon Valley unicorns...
Business Insider

Uber IPO values company at twice the size of Ford

People who enjoy riding in Uber cars will be able to buy shares in the company for the first time Friday. The stock market debut is expected to be one of the...
CBS News

Uber drivers go on strike in London and U.S. ahead of IPO, early protests sparse

Uber drivers in London and major U.S. cities held a series of strikes on Wednesday to protest the disparity between gig-economy conditions and the sums that...
Reuters India

Uber extends losses following last week's rocky debut

New York (AFP) May 13, 2019 Uber stocks went into a fresh skid Monday - more bad news for the global ride-hailing giant, which endured steep declines in its...
Energy Daily

Uber wanted to IPO with a $120 billion valuation but ran into trouble when some of its biggest shareholders held out for a lower price (UBER)

Uber wanted to IPO with a $120 billion valuation but ran into trouble when some of its biggest shareholders held out for a lower price (UBER)
· Uber wanted to go public with the $120 billion valuation pitched by bankers at Morgan Stanley and Goldman Sachs ahead of its initial public offering, but the...
Business Insider

Uber Stock Slides in Disappointing Trading Debut That Followed Muted I.P.O.

Uber’s road to the public market has been rocky. Last year, investment bankers said it could be valued at $120 billion upon I.P.O. That number has declined in...
NYTimes.com

You Might Like


Other recent news in Business

Google's advertising boss says that it won't sacrifice privacy to boost its slowing ads BUSINESS (GOOG, GOOGL)US reaches deal with CANADA, Mexico to lift steel, aluminium tariffs
Seattle-based supercomputer maker Cray agrees to $1.3 billion acquisition by HEWLETT PACKARD EnterpriseBoeing says it has corrected simulator SOFTWARE of 737 MAX jets
•More original news reports from One News Page
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.