July 21, 2017

As Uber’s value slips on the secondary market, Lyft’s is rising

Stock Market - Arrow Graph Going Down on Blue Display
Copyright: audiohead / 123RF Stock Photo

It’s been happening for months. The value of Uber’s shares has been falling on the secondary market, the company’s shares hammered down by an barrage of press attention paid to its real and perceived misdeeds.

That slip is widely seen as the reason Uber investors strong-armed CEO Travis Kalanick out of his role as CEO on Tuesday night. As numerous sources confirmed to us yesterday (and The Information first reported in late April ), Uber is right now valued at roughly $50 billion by secondary shareholders — a far cry from the $68 billion that its primary investors have assigned it.

It’s especially notable as last year, secondary investors were willing to pay full freight — even a premium — for any Uber shares they could lasso.

Meanwhile, Lyft’s stock is on the rise. Our sources say in fact that typical 20 percent discount assigned to shares on the secondary market has […]

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The News for the Gig Economy Staff is constantly searching the web for the latest news regarding freelancing and gig platforms to bring them to you in one handy place. All articles with this generic author have been sourced with the original location at the bottom of the piece. We encourage our readers to view the original source of all excerpts. NGE is a project of ARC Online, LLC.

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