After Uber's IPO, Are Its Investors The Biggest Losers?
Uber is the ultimate minotaur: private-market funding was to create a self-fulfilling prophecy of dominance and market power.
But according to Business Insider, it hasn't worked out like that.
Uber raised $15.35 billion at $48.77 per share; it then raised another $8.6 billion in its IPO on Thursday at the slightly lower price of $45 per share.
Now, they're actually worth $41.57, and a whopping 81% of the $29.55 billion in equity that Uber has raised is underwater.
IPO investors have lost $655 million, while investors from 2016 and 2018 have between them lost $2.27 billion.
Investors who bought Uber shares 3 years ago have lost 15% of their money, before fees.
The opportunity cost is even greater: Investors in the S&P 500 have seen their money grow by 50% over the same period.