Uber on Friday set a price range of $ 44 to $ 50 per share for its IPO in an updated filing, giving it a market cap of 83.8 billion at the high end. That's far less than expected
Uber is expected to go public early next month on the NYSE under the UBER ticker. Its IPO will happen a little over a month after its chief rival Lyft's IPO. Lyft saw its shares drop significantly in the weeks since its March IPO, which could have put a damper on Uber's valuation. Lyft has a market cap of about $ 16 billion.
The company is the latest of several big tech firms to enter the IPO process this year, including also Zoom, Pinterest and PagerDuty. Slack is also expected to release its prospectus Friday for a listing on the New York Stock Exchange