A perfect summary of the Uber IPO in a FT comment
@yogthos Somehow this sounds like Uber's tolling bell.
The irony will seep through the entire technosphere when Uber formalizes its IPO share price in the next couple of weeks.
Reports say Uber plans to seek an initial market valuation of $90bn~$100bn, i.e., Uber could become the 30th most VALUABLE company listed on a US exchange, topping ConocoPhillips and General Electric. 😲 It would also be larger than the two Wall Street banks leading its IPO, Morgan Stanley and Goldman Sachs.
Indeed. VCs are always out for exorbitant returns within a short time horizon. It forces companies into binary exits: acquisition or IPO. The third option is bust. It's toxic and unsustainable.
That's why many startups have begun to tell VCs to go f*** themselves.
Lasy year Wall Street told Uber it could fetch a $120bn valuation in its IPO. According to a footnote in Uber's IPO registration doc, Uber's CEO stands to make a _boatload_ of money (via stock options from his original employment contract) if Uber maintains an average fully-diluted valuation of $120bn+ over a period of 90 consecutive trading days.
If you whole buisness plan is to hope your workers get outmoded, you suck and you deserve to fail.
Server run by the main developers of the project It is not focused on any particular niche interest - everyone is welcome as long as you follow our code of conduct!