Uber wanted to IPO with a $120 billion valuation but ran into trouble when some of its biggest shareholders held out for a lower price (UBER)

Business Insider
By Becky PetersonMay 16, 2019, 11:08 am129 pts
Uber wanted to go public with the $120 billion valuation pitched by bankers at Morgan Stanley and Goldman Sachs ahead of its IPO, but the company ultimately listed with a $75.5 billion market cap. One reason is that institutional investors, many who privately owned Uber stock, didn't want to buy more shares at…

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