Will Uber IPO in 2017?
Buz Investors Chances of an Uber IPO When it comes to public relations, you really can’t do much worse than Uber Technologies Inc. The Uber valuation, ahead of its eventual initial public offering (IPO), now sits at a monstrous $66.0 billion, while the Uber IPO date is still very much in the air.
But, even with all the gaudy numbers and accompanying IPO excitement, all Uber can ever seem to do in the public’s eye is, well, mess up. People should be wondering “will Uber IPO in 2017?” not “Jeez, what did Uber do wrong now?“
OTHER STORIES BUZ TRADERS FOLLOW
Chances of an Uber IPO
Before we get into the particulars of the potential Uber IPO 2017, lets recap some of the colossal and calamitous missteps that the company has made on the public relations front, and why that could be important in the run-up to a public offering. (Source: “As Uber Melts Down, Its CEO Says He ‘Must Fundamentally Change‘,” The Atlantic, March 1, 2017.)
What would happen if we weren’t a part of that future?” asked Travis Kalanick in a 2016 interview about autonomous cars. “If we weren’t part of the autonomy thing? Then the future passes us by basically, in a very expeditious and efficient way.” (Source: “Travis Kalanick on Uber’s bet on self-driving cars: ‘I can’t be wrong’,” Business Insider, August 18, 2016.)
Basically, that’s what Uber could be facing if it faces the worst-case scenario as a result of these legal proceedings.
What’s even stranger is that not too long ago in 2013, Google and Uber were looking like they were going to march hand-in-hand into the autonomous car future as allies, not mortal enemies. Google invested $258.0 million in Uber back in 2013; quite a departure from their current relationship. (Source: “The inside story of the rise and rise of Uber,” TechCrunch, February 7, 2017.)
First you have the issue of duplication. While Uber was first in the market to popularize ride-sharing as an app (and has benefited greatly due to that initiative), competitors like Lyft are increasingly making a claim on Uber’s market share. And, all things being equal, if consumers are faced with a choice between the vilified Uber or the more personable Lyft, it’s not hard to imagine who they’ll be hailing. (Source: “Uber’s books still top secret, but its biggest weakness isn’t,” CNBC, June 8, 2016.)