It’s almost been a week since Uber went PUBLIC with the largest US IPO (Initial Public Offering) of 2019. In 2018 Uber was predicted to have a public offering at $120 billion, however

Come 2019……

Uber goes public with the company valued at $75.46 billion, a 38% valuation drop! In addition, share prices are $42, instead of the $45 at IPO. (Bloomberg)

Yay for investors, quickly turned into a nay.

But why?

• Their competitor, Lyft’s performance
• Markets being affected by US, China trade war

Stepping into the shoes of the people who actually make Uber possible

Many Uber drivers were not as excited about Uber going public before getting their “act right.” These drivers took to the streets of Wall Street, not in their vehicles, but on foot. The main issue is that Uber drivers would like some respekkk, and have their issues treated with the same value and attention as this IPO. They believe their workers’ rights have been violated for far too long. For some driving an Uber is a part-time job, whilst for others it’s becoming more fulltime, hence people want higher wages and benefits. (which they have added in some places in Europe)

Ting-ting

Uber has listened and they are planning to either give their drivers a CASH bonus for going public or drivers will have an option of using that cash to buy at the IPO price.

The question is……

does EVERY driver benefit?

Hold tight, Uber is still figuring out how to give these out and to whom, but it could be based on the drivers’ years and miles.