You can now buy a bit of Uber, but would you want to?

Uber, the ride sharing and hailing application, have finally gone public, but its shares started falling amid many concerns raised over the past couple of years about the profitability, among other things.

The shares opened to the market at $42 per share, which was 7% the Initial public offering (IPO). Uber priced initially at $45 a share, which equated to a market value of $82.4bn.

Surprisingly last year investment bankers had expected the initial offering to be 300% of that. Although a wealth of concerns raised by potential investors including the profitability and competitor Lyft going public 6 weeks ago and already tumbling 20% from its IPO.

Uber closed on Friday at $41.57 which has to be a sting for those that leapt in strait away.

There are a few reasons that could have contributed to this:

• Sexual harassment within the company
• Allegations that it stole self-driving car technology
• Covering up leaking passenger information
• Uber drivers assulting passengers
• Self-driving test killing pedestrian

Uber have now also started doing food in the UK so its hardly slowing up, but clearly that’s not enough to convince investors to part with their money.

The tech giant has lost about $9bn since inception, but that’s not really a surprise, many companies in the tech industry are operating at a loss, like Xero.

What do you think, were investors right or will Uber overcome the drop in value?

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