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Why Uber Missed Its $120 Billion Valuation

Video Credit: Wochit - Duration: 00:37s - Published < > Embed
Why Uber Missed Its $120 Billion Valuation

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 offering.

The company ultimately listed with a $75.5 billion market cap.

The Times reports institutional investors, many who privately owned Uber stock, didn't want to buy more shares at the higher price.

Uber had taken more than $10 billion from institutional investors and private-equity firms.

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