Uber has gone public on the New York Stock Exchange at $45 a share.
Entering the exchange on May 10 at the lower end of the anticipated $44–$50 price range it had originally suggested, the ride-hailing firm has sold 180 million shares, raising $8.1bn and being valued at around $82bn.
The company admitted in its IPO paperwork it may never achieve profitability. Uber chief executive Dara Khosrowshahi told CNBC, however, that its main competitor Lyft's fluctuating share price since going to IPO influenced the company's decision to sell shares at a lower price than initially anticipated.
"We thought that at this price it reflected the environment," said Khosrowshahi. "The environment is uncertain right now and anytime there's uncertainty in the market investors are going to be a little hesitant.
"We wanted to put our stock with a group of funds that we know are not going to hold for the next week but for the next year or more," he added.
A large part of Uber's success has been its focus on data science which has enabled it to build a better product. And at DATAx San Francisco next week, three Uber speakers will be taking to the stage to discuss the company's innovative approach to data science:
Reza Shiftehfar, Haddop Platform, Engineering Manager
Presenting "The next generation of Big Data platforms for advanced analytics – 100s of PetaBytes with real-time access" on the DATAx Leadership Summit stage
Tal Ben Yakar, Senior Data Scientist
Joining the panel session "Bridging the data skills gap and preparing for the future" on the Machine Learning Innovation stage
Franziska Bell, PhD, Director of Data Science
Presenting "Natural Language Use Cases at Uber" on the AI in Marketing stage