Dear friends,
Uber Technologies Inc. is going to issue Initial Public Offer through New York Stock Exchange. We all know it is a very famous transportation network company headquartered in San Francisco, California. Uber offers services including peer-to-peer ridesharing, ride service hailing, food delivery and a bicycle-sharing system. The company has operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps. On April 11, 2019, Uber filed with the U.S. Securities and Exchange Commission (SEC) to offer shares of its common stock.
The company is targeting to raise $10bn from its IPO. Recently some of its investors expressed that the company could be valued at $90bn to $100bn. The company was last valued at $76bn in a private fundraising in August.
Now the market capitalisation of Bitcoin is near $89 billion.Thus the estimated valuation would surpass today’s Bitcoin market capitalization .
The transportation company bases its projections on its leading technology, expertise and massive network which comprises millions of drivers, users, shippers and other participants around the world.
Moreover Uber details in its prospectus financial data as follows:
Revenue derived from our Ridesharing products grew from $3.5 billion in 2016 to $9.2 billion in 2018.
Gross Bookings derived from our Ridesharing products grew from $18.8 billion in 2016 to $41.5 billion in 2018.
Consumers traveled approximately 26 billion miles on our platform in 2018.
Uber has become omnipresent. Its global ridesharing footprint covers 63 countries, encompassing a population of over 4 billion people.
Digital Currency Group CEO, Barry Silbert adds that billions of dollars in private company stock will be unleashed from IPOs this year.
“The crypto asset class is going to be a huge beneficiary,” he says
YOU CAN ALREADY USE BITCOIN TO BUY UBER IPO.
Uber’s direct acceptance of payments in Bitcoin and other cryptocurrencies may be granted soon.
In the meantime though some Uber drivers around the world are unofficially accepting BTC instead of their local fiat currency.
Some users in Argentina, for example, have expressed interest in paying for Uber with bitcoin while some drivers wouldn’t mind receiving some bits instead of the depreciating peso.
However, paying for Uber in bitcoin indirectly is already possible. For example, there is the gift card option from Bitrefill and others including the Coinbase e-gift card supported in select EU countries and Australia.
There are also third-party services as well as cryptocurrency debit cards which allow the users to pay for anything, including Uber, Lyft etc. using bitcoin.
Thanking you and waiting for your comments and feedback.....
