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SoftBank thinks Uber is valued over $20 billion too high, although other investors may disagree:
SoftBank is preparing to buy shares of Uber at a price that values Uber at only $48 billion, a steep 30 percent discount rate for ownership in the company, which was last valued at almost $70 billion.
That's in line with what Uber investors were expecting; Recode reported this weekend that the price could be as low as $48 billion or as high as $52 billion. The $48 billion price, confirmed by a person with knowledge of the figure, will however raise concerns about whether the secondary sale will succeed — SoftBank needs to accumulate 14 percent of the company's shares to trigger the so-called "tender offer."
Also at Bloomberg and TechCrunch.
Previously: Alphabet Leads $1 Billion Round of Investment in Lyft
SoftBank to Invest Billions in Uber
Uber to Purchase 24,000 Volvo SUVs for Autonomous Vehicle Fleet
SoftBank Knew of Data Breach at Uber
(Score: 2) by PartTimeZombie on Tuesday November 28 2017, @08:15PM (2 children)
Lower it again [businessinsider.com.au]
Here's a newer link [afr.com] which claims vastly lower losses, but when new investors are a company's main source of revenue it looks a lot like a pyramid scheme to me.
(Score: 3, Insightful) by takyon on Tuesday November 28 2017, @08:39PM (1 child)
Consistent losses to fuel growth are entirely acceptable in Silicon Valley. Right up until the Juicero moment.
A lot of people really do use Uber. But that doesn't mean the company should be valued at $69 billion. Or $100 billion [techcrunch.com]. At least not right now.
These high valuations and new investors might just make it easier for Google to extract a nice $2+ billion judgment from Uber.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by PartTimeZombie on Tuesday November 28 2017, @10:43PM
Nice comparison. When everyone always knew the emperor had no clothes.