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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Business»PayPal To Invest $500m in Uber at IPO Price

    PayPal To Invest $500m in Uber at IPO Price

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    By AdeO on April 26, 2019 Business, Funding, Investments, Transportation
    PayPal Holdings Inc., an online payments company has disclosed plans to invest $500 million in Uber Technologies as the ride-hailing company has said it aims for $90B IPO Valuation. PayPal will invest in Uber through a concurrent private placement at the IPO price. A financial services component is important to Uber as it works to expand into a super-app of logistics and transportation services. Super-apps are applications where customers go for a range of services, such as transportation, shopping and payments. Such companies can be much more lucrative than those that offer just one core business or service. Uber set a price range of $44 to $50 per share for its IPO in an updated filing. The company seeks to raise about $10 billion in its IPO. The valuation sought is less than the $120 billion valuations that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained in its last private fundraising round last year.

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