Uber is Pricing its IPO At This Price

It’s almost here. One of the most awaited IPO’s ever in stock market history is coming in May.

The ride hailing company will be announcing the terms of its IPO tomorrow and has said to investors that it will look for a value between $80 billion and $90 billion. This is according to sources close to the matter.

According to the sources, Uber will unveil the IPO price range tomorrow and it will be in between $44 and $50 a share.

The sources also revealed that some Uber insiders will be selling their own shares in the IPO. Reuters had estimated that all the shares sold in the IPO could have a value of roughly $10 billion.

“People are more cautious than they were 4 weeks ago,” warned Duncan Davidson, who is the general partner at Bullpen Capital.

The ride hailing giant, which runs its service in over 70 countries, has said that it has 91 million users.

The company is expected to list on the NYSE and is said to be the biggest IPO of the year.

“I’m a little scared of Uber at $100 billion,” NYU Stern professor Aswath Damodara told CNBC. “I think both Lyft and Uber are struggling with a way to convert revenue growth into profits. So you are paying $100 billion for a company that still doesn’t have a viable business model. That’s scary.”