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Photo shows an exterior view of the headquarters of Uber in San Francisco. (VOA)

Facing a turbulent time at its drivers’ end, Uber Technologies has priced its initial public offering (IPO) at $45 per share and aims to raise $8.1 billion as it prepared for its public debut on the New York Stock Exchange on Friday.

According to a CNBC report late Thursday, “at the IPO price of $45 per share, the company will be valued on a non-diluted basis at about $75.46 billion”.


“On a fully diluted basis, Uber has an implied market valuation of $82.4 billion,” the report added.

The ride-hailing service is offering 180 million shares of its common stock.

Uber was expected to be valued at as much at $120 billion following its offering.


App-based Cab Uber. Wikimedia

“But it dialed back the projected price of its shares after rival Lyft, which went public in March, saw its stock sink sharply following its IPO. Lyft shares were trading this week at around $54, down 25 per cent from their debut day,” reports CBSNews.

The company registered $11.3 billion in revenue for 2018 — up 43 per cent from 2017. It adjusted losses of $1.8 billion, an improvement over losses of $2.6 billion in 2017, according to its IPO filing.

Uber filed its IPO process last month. It would be listed on the New York Stock Exchange (NYSE) under the symbol “UBER”.

Also Read- Amazon Accused of Violating Kids’ Privacy with Alexa

As of December 31, 2018, it had 91 million, or 9.1 crore, monthly active platform users. There were 3.9 million, or 39 lakh, drivers on the platform by the end of 2018.

Uber drivers in cities like Los Angeles, New York City, London and Tokyo joined a global strike and logged off from the app as they cash incentives have considerably gone down while work hours have gone up. (IANS)


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The Indian ships will spend more than two months in the region, the navy said in a statement.

NEW DELHI - India Navy sending four ships for exercises and port visits with the Philippines, Vietnam, Singapore, Indonesia and Australia to strengthen cooperation in the Indo-Pacific region, its navy said Wednesday, as China's maritime power grows in the area.

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Pakistan has failed miserably to protect Hindus, their interests.

A Hindu temple in Pakistan's Punjab province was reportedly vandalized by hundreds of people after a nine-year-old Hindu boy, who allegedly urinated at a local seminary, received bail, a media report said on Thursday.

According to the Dawn news report, the incident took place on Wednesday in Bhong town, about 60 km from Rahim Yar Khan city.

Besides the vandalization, the mob also blocked the Sukkur-Multan Motorway (M-5), the report added.

Citing sources, Dawn news said that a case was registered against the minor on July 24 based on a complaint filed by a cleric, Hafiz Muhammad Ibrahim, of the Darul Uloom Arabia Taleemul Quran.

The sources said that "some Hindu elders did tender an apology to the seminary administration saying the accused was a minor and mentally challenged".

But, when a lower court granted him bail a few days ago, some people incited the public in the town on Wednesday and got all shops there closed in protest, the report quoted the sources as further saying.

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Also Read: Hindu Woman Axed To Death In Pakistan

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