PayPal will make a roughly $500 million investment in Uber, which could help shore up demand for the ride-hailing giant's shares ahead of its IPO
Uber Technologies Inc. ratcheted down its target valuation to a range of about $80 billion to $90 billion for its initial public offering, according to people familiar with the matter.
The ride-hailing giant is seeking to price its shares between $44 and $50 apiece, the people said. It aims to raise $8 billion to $10 billion in the IPO, one of the people said. Uber had previously given documentation to holders of its convertible notes outlining a potential price of $48 to $55 a share, which would have been a valuation between...
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