Heard on the Street: Uber takes a valuation cut in its IPO, but still holds a unique position against other big unicorn debuts
Google is the name of a company that also happens to be listed as a verb in the Merriam-Webster dictionary. So are FedEx and Xerox. Uber—already used as shorthand across much of the world for the act of calling up a ride from a smartphone—is likely next.
That alone gives Uber a special place among other big names in this year’s crowded field of initial public offerings, and it could act as the ultimate insurance policy. On Thursday, the ride-hailing market leader priced shares for its IPO at $45 a share, implying a market...
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