Transcript for Uber makes stock market debut
Now to one of the most highly anticipated ipos in years, Uber is making its stock market debut today and janai Norman is here with how it could affect the price of your ride. Good morning, janai. Good morning. This is the day investors have been waiting for. Uber's ipo. It stands to make early investors a lot of money. But it could mean riders will end up paying more. Asking price is $45 per share. So Uber's value could top $80 billion. More than companies like Ford and GM. But the company has been at the center of controversy since it was launched almost constant lawsuits from cities trying to fight its existence, question behavior that forced Travis kalanick to step down and two days ago drivers across the U.S. And in other countries went on strike demanding better pay and benefits and still Uber anticipates driver dissatisfaction will increase as it makes changes aimed at increasing profits. So the bottom line, what does it mean for those who use Uber? The thing is it could mean prices will likely go up and that's because becoming a public company means investors will now be more focused on Uber's earnings. To this point Uber has never made a profit. The company lost $1.8 billion last year alone. So Uber will likely have to raise prices and, guys, for riders that means spending more money. Somehow I knew you were going to say that. Me too. A lot of questions about how much the drivers are getting paid as well. Thanks very much.
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