Just another Network site

No Uber IPO in Sight After $3.5 Billion From Saudi Arabia

  • Sanwal said Uber will have to join the ranks of public companies in order to reward investors who have been funding its costly expansion. “
  • Volitile market makes IPOs less attractive to company founders
  • While Uber has demonstrated growth over the past several years, many other startups don’t have strong enough business models to go public, said Sanwal.
  • Startups put off going public with infusion of new cash
  • The ride-hailing company’s latest infusion of cash — a record $3.5 billion from Saudi Arabia’s sovereign wealth fund — means Chief Executive Officer Travis Kalanick has the finances to continue avoiding a listing of his company any time soon. “

Read the full article, click here.

@TimoNurminiemi: “No #Uber #IPO in Sight After $3.5 Billion From #SaudiArabia | #startup #VC #MnA @technology”

Once upon a time, Silicon Valley startups raised money from venture capitalists and then, with some luck and a promising business, held an IPO to cash in and expand. Uber has no need for such traditions.

No Uber IPO in Sight After $3.5 Billion From Saudi Arabia