Apr 12, 2019

Is Uber really worth $100bn?

Dan Ives, managing director and equity analyst Wedbush Securities, said the company's IPO filing is the first time people will be able to "Really get under the covers of Uber to understand the financials". The firm's US and Canadian business does not appear to have recovered from the #DeleteUber campaign in 2017 - not a stellar year for the company - which was first spurred by claims that Uber attempted to break a taxi strike by New York taxi drivers. The hashtag then reappeared on social media when former Uber engineer Susan Fowler wrote a blog which alleged a toxic work environment at the company. They are classed as independent contractors, but Uber is still facing legal issues about this and if workers were to be considered employees then Uber could face higher costs. Uber did not specify what price it will sell its shares at - that is something to be determined over the coming weeks as Mr Khosrowshahi meets potential investors.

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