Uber IPO: cryptocurrency will become a "great beneficiary"

Uber IPO: cryptocurrency will become a "great beneficiary"

Translator: Play the coin family ElaineHu

Uber Technologies Inc. expects a valuation of approximately $100 billion at the time of listing on the New York Stock Exchange. The IPO of large companies such as Uber may bring huge benefits to the encryption industry. At the same time, commercial solutions that allow Uber users to use Bitcoin payments are moving to the center of the stage.

Uber IPO: Market value exceeds Bitcoin market

On April 11, 2019, Uber applied to the US Securities and Exchange Commission (SEC) for the issuance of its common stock. In the recently released prospectus, Uber did not mention the size of the IPO, which may be one of the largest IPOs ever.

However, according to the British "Financial Times" report,

People familiar with the matter said the company's goal is to raise $10 billion through an initial public offering (IPO). The company recently disclosed to investors that its valuation may be between $90 billion and $100 billion. The company was valued at $76 billion in a private placement in August this year.

Therefore, this valuation will exceed the current market capitalization of the approximately $89 billion bitcoin market.

The transportation company's forecast is based on its leading technology, expertise and vast network of millions of drivers, users, shippers and other players around the world.

In addition, the details of the financial data in the Uber prospectus are as follows:

* Our carpool product revenue increased from $3.5 billion in 2016 to $9.2 billion in 2018.

* The increase in the number of carpooling products has increased the total booking volume from $18.8 billion in 2016 to $41.5 billion in 2018.

* In 2018, consumers traveled about 26 billion miles on our platform.

Uber has become everywhere. Its global carpool footprint covers 63 countries and covers more than 4 billion people.

Barry Silbert, CEO of Digital Currency Group, added that billions of private company stocks will be released from IPOs this year.

"The crypto asset class will be a huge beneficiary," he said.