Lyft’s shares lost more than 20 percent of their value after its IPO. The Uber IPO valuation is quite below expectations especially since it was the most anticipated IPO since Facebook’s. According to Reuters, the Uber’s IPO valuation is nearly a third less than the figure its investment bankers had anticipated last year.

Alex Castelli, managing partner at advisory firm CohnReznick, said, “Ultimately, the success of Lyft and Uber IPO’s offerings will be judged based on post-IPO performance and how these companies can sustain their growth, while moving toward profitability and lowering their cash burn.”

After Lyft’s IPO fluctuations in late March Uber has settled for a lower price in order to avoid being mired in a situation where prices rose and plunged in trade. Despite that, many analysts believe that Uber’s IPO was oversubscribed.

Uber’s CEO Dara Khosrowshahi in meeting with investors over the last two weeks said that the company’s future is not simply focused on ride-sharing, but as an advanced technology platform revamping logistics and transportation.

The company is due to begin trading on the New York Stock Exchange on Friday under the name UBER.

The post Lyft effect: Uber valued at $82.4 billion in its most anticipated IPO appeared first on International Finance.

Uber is aiming for a valuation between $90 billion and $100 billion, according to Reuters. During the IPO roadshow, Uber Chief Executive Dara Khosrowshahi is expected to convince investors about the company’s cultural change and business practices, after a series of allegations in the last two years.

The company operates in more than 70 countries, and was recently valued at $76 billion in the private fundraising market. CFO Nelson Chai said that Uber has invested in India and the Middle East to demonstrate its leadership position in those high-potential international markets.

Uber will soon acquire Careem, a Dubai-based ride-sharing startup for $3.1 billion to take over the Middle East market. The acquisition will widen Uber’s presence in a region of some 400 million people. Last year, Uber’s revenue was $11.3 billion and gross booking from rides was $50 billion, up 45% from 2017.

The post Uber Technologies plans to sell $10 billion worth of stock in IPO appeared first on International Finance.