SAN FRANCISCO--(BUSINESS WIRE)--Uber appears to be back on track after a series of missteps and has recently made strong progress in preparing for what could be the largest unicorn IPO, according to a new SharesPost’s report.
“Though the past 12 months have been rocky for Uber, we remain cautiously optimistic,” said Rohit Kulkarni, Managing Director and Head of Research of SharesPost, Inc. “With the progress made by Uber’s new CEO, the investment from SoftBank and Waymo’s settlement behind the company, the outlook appears to be positive for Uber.”
Key findings from SharesPost’s new report, Uber Back on Track? Unlocking Upside In Uber Shares, include the following:
- SoftBank can bring order to Uber and the chaos of the ridesharing industry. After the most recent series G-1 financing, Uber has raised more than $14 billion in primary financing. SoftBank has now invested more than $20 billion in ridesharing companies, including DiDi, Grab, and Ola. SoftBank could play a key role in the industry’s upcoming consolidation and maturation.
- Uber’s sum-of-parts valuation analysis reveals upside potential. Uber could unlock greater shareholder value if it divests or spins off its self-driving car business, as well as its operations in India and other parts of Southeast Asia. SharesPost estimates that Uber’s non-core assets could be worth more than $17 billion. With its $54 billion blended valuation after the SoftBank investment, SharesPost estimates that Uber’s core business is potentially valued at $32 billion—nearly three times the company’s estimated net revenues for 2018.
- New CEO readies Uber for IPO. Even with major, back-to-back successes, CEO Dara Khosrowshahi’s pre-IPO, to-do list remains long. His next step should be prioritizing internal team-building and employee morale over external corporate development initiatives or media/investor relations.
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About SharesPost, Inc.
SharesPost is an SEC-registered broker-dealer, investment advisor and an approved Alternative Trading System. SharesPost helped launch the private tech growth market in 2009 and has built one of the leading platforms for secondary transactions and Initial Coin Offerings pursuant to Reg. D. SharesPost provides the private tech asset category with a suite of trading and lending solutions to facilitate shareholder and option holder liquidity. With nearly $3 billion in secondary market transactions for more than 200 leading technology companies, SharesPost provides the trading, research and online tools to transact in the private market with confidence. For information, visit sharespost.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements. These statements include, but are not limited to, statements about research on late-stage, venture-backed companies. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond SharesPost’s control. These factors include, but are not limited to, factors detailed in the white paper. We undertake no obligation to release any revisions to any forward-looking statements.