‘PayPal Will Invest Half A Billion Dollars In Uber On The IPO’
‘PayPal will Invest half a Billion dollars in Uber on the IPO.’ The online payment company PayPal plans to invest 500 million dollars in Uber on the IPO, International Financing Review (IFR) reports Friday.
Uber will also announce the price per share on Friday.
That will be between 44 and 50 dollars.
The taxi service is expected to estimate its value at 80 to 90 billion dollars.
That is less than the 120 billion dollars considered by investors last year.
It may have to do with the disappointing results of competitor Lyft,
who went public on the stock exchange last month.
An investor like PayPal is essential to Uber.
As a result, a taxi ride in around seventy countries could be paid via the online payment service.
The development of a so-called ‘super app’ is also coming closer.
It gives customers a way to multiple services, in addition to ordering a taxi ride, such as shopping and making payments.
The IPO of Uber is planned for the beginning of May.