Uber IPO turns out to be Uber-Disappointment

After the most hyped IPO debut of 2019, Uber ends the quarter at a loss over $1B, losing $7B in its stock value, much to the dismay of its stockholders. It draws a tidy parellel with its rideshare competitor Lyft, and calls into question the sustainability and profitability of the business model.

Uber insists that it’s holding on for the long game though, and that they’re “a once-in-a-generation company” that isn’t “even one percent done with our work.” But they face an uncertain future. Between stockholder dread, unsatisfied drivers and legal troubles, they have their work cut out for them.

They’ve previously stated that they will continue to spend aggressively in order to maintain their hold on market share, and will continue to advance beyond ridesharing into new market areas, despite the difficult obstacles ahead.

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