Uber promises a bottomless well of money to investors … but not yet
by Rob Davies from on (#4EGD8)
Expect a barnstorming debut at the latest tech company listing, yet there is no sign of any profits in the near future
Who wants to invest in a company that has never made a profit, admits it may never do so and is on the brink of war with its global workforce? Probably a fair old chunk of Wall Street, as it happens. This week Uber, the ride-hailing and food delivery service, will put a price on the shares it will issue in the largest tech company float since Facebook in 2012.
The San Francisco-based company hopes to raise $10bn in a listing valuing it at $90bn. Dara Khosrowshahi, the chief executive, embarked on a pre-float roadshow last week, touring hotel function rooms from New York to London, addressing halls thronged with investors and asking them to give Uber a five-star rating.
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