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Uber sets the IPO range for $ 44 to $ 50



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

20 billion Even at the high end of Uber's range, its valuation would be well below what many expected.The company's market cap would be $ 73.7 billion at the low end of its range.Uber's last private valuation was about $ 76 billion [PayPalwillbuy$500millionworthofUberPayPalwillpay$500millioninUberPayPalwillpay$500millioninUberandpaypalCEODanSchulmansaidinastatementonLinkedInthatPayPalisextendingitscurrentpartnershipwithUbertobuildUber'sdigitalwalletsystemstockattheIPOprice[19659003] Uber also reported its first-quarter 2019 financials. The company reported revenue of about $ 3 billion and a net loss of around $ 1 billion.

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


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