Uber shares make their debut on Friday in the technology industry's biggest initial public offering in years. Uber on Thursday priced its IPO at $45 a share, close to the bottom of its projected range following a bumpy IPO by smaller rival Lyft. The pricing values Uber at $82.4 billion. The company is raising $8.1 billion in the biggest IPO since Facebook, which debuted in 2012 valued at $104 billion. Chinese e-commerce giant Alibaba went public in 2014 with a valuation of $168 billion. Other high-profile tech IPOs in recent years, including those of Facebook, Twitter, and Snap, were priced higher than expected, but Uber faces strong headwinds. It lost $1.1 billion in the first quarter, facing strong competition and concerns about its business model.
Read more at The New York Times.
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