Uber’s much heralded debut on the New York Stock Exchange (NYSE) began with disappointment on Friday as its shares fell below an already reduced offering price.
The taxi firm’s stock opened 7 per cent lower than planned at $42 after the opening bell on Wall Street, before beginning to climb as trading got underway.
Still, that means Uber is worth around $80bn despite never having turned a profit and warning last month that it might never do so.
Uber lost $3bn last year and $9bn since it was founded – large even by the standards of Silicon Valley tech start-ups.
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