Economy

Take me to the NYSE: Uber snubs Nasdaq in stock market listing

Take me to the NYSE: Uber snubs Nasdaq in stock market listing

Since a technical glitch dogged Facebook Inc.'s Nasdaq listing seven years ago, the NYSE has attracted large tech companies including Alibaba Group Holding Ltd.'s record $25 billion in 2014 offering, Twitter Inc.'s 2013 IPO and Snap Inc.'s debut in 2017. The final size will change. Sources added that Uber would need to float only about 16 percent of its shares in order to be included in the top five, provided the company reaches the big valuation. The company's co-founders and executives will retain significant voting power after the offering, according to the filing.

Pinterest, which owns the image search website known for food and fashion photos, was valued at $12 billion in its last fundraising round in 2017. Pinterest confidentially shared its IPO plans with the SEC earlier this year. However, the loss was down from the massive $130 million in losses from 2017.

Pinterest revealed that it has 250 million users and growing revenues. It's also planning to expand internationally. Those numbers were improvements over 2016, when it lost $182 million on revenue of $299 million. Based in San Francisco, Pinterest claimed revenue of $756 million past year, up 60 percent from 2017, but that amounted to a lost of $63 million. A majority of revenues come from the US, though a small but growing percentage are coming from overseas. That hurt online traffic and user growth in the following quarters, according to the filing.

More news: Apple's news subscription likely won't include New York Times

The filing confirms that Pinterest will debut with the same dual-class stock structure as Snap before it and Lyft, which is now pursuing its own IPO.

The company is among a host of technology startups, including Uber, Lyft, AirBnB and Slack, gearing up for multi-billion IPOs in 2019.


  • Samsung Galaxy S10 5G release slated for April 5

    Samsung Galaxy S10 5G release slated for April 5

    There would reportedly be no pre-order period for the phone and it will directly go on sale when it's officially launched. If that one is using the Qualcomm chip it's a clear confirmation that we are not getting an Exynos version of the Fold.
    Rapper Dr.Dre gloats over daughter’s ‘no jailtime’ USC acceptance

    Rapper Dr.Dre gloats over daughter’s ‘no jailtime’ USC acceptance

    Dre , whose real name is Andre Romelle Young, has ever engaged in fraudulent practices to help his daughter's application. Dre has removed his boasting Instagram post on his daughter's USC admission after severe online backlash.
    Apple falls out with New York Times

    Apple falls out with New York Times

    Apple's TV projects include a star-studded lineup, including a series with Reese Witherspoon and Jennifer Aniston . It could be that the company will work with other companies, instead of competing against them.
  • UC Irvine vs Kansas State

    UC Irvine vs Kansas State

    Irvine trailed by as much as 10 points in the first half but rallied back to tie the game going into the half. The Big Ten remained ideal in this year's tournament when Iowa knocked off Cincinnati. "It's amusing .
    Heads up: Northern lights could be visible this weekend

    Heads up: Northern lights could be visible this weekend

    Because the northern lights occur above the clouds, check the weather forecast in your area before going out. It's not unheard of for Hoosiers to see the Northern Lights in IN, but it is relatively rare.
    Gardner-Webb Men's Basketball: NCAA Tournament

    Gardner-Webb Men's Basketball: NCAA Tournament

    Virginia (30-3) advanced to Sunday's round of 32 against No. 9 seed Oklahoma , a 95-72 victor over No. 8 MS in the South Region. An assistant coach came into the locker room screaming at the Cavs, and Jerome said the team could "feel their panic".
  • JPMorgan asks 300 staff to move if no Brexit deal

    JPMorgan asks 300 staff to move if no Brexit deal

    Demonstrators carry posters and flags during a Peoples Vote anti-Brexit march in London , Saturday, March 23, 2019. Brexit had been due to happen on March 29 before May secured a delay in talks with the EU. "It's not a done deal".
    Family Behind Purdue Pharma Facing Second Suit Over Role in Opioid Crisis

    Family Behind Purdue Pharma Facing Second Suit Over Role in Opioid Crisis

    Richard Sackler, a onetime president of the company, shadowed sales representatives for a week, according to the lawsuit. According to the US Centres for Disease Control and Prevention, in 2017 opioids were involved in almost 48,000 deaths.
    Devils Done Dancing: Buffalo Races Past ASU

    Devils Done Dancing: Buffalo Races Past ASU

    Point guard and newcomer of the year Vinnie Shahid made a driving and-1 layup to give the Bison the aforementioned 13-point lead. Arizona State plays two more times - including next month's ASU Thunderbird Invitational - before the Pac-12 Championship.
  • Donald Trump Celebrates Release Of Mueller Report:

    Donald Trump Celebrates Release Of Mueller Report: "Complete and Total Exoneration"

    However, Barr said he and Deputy Attorney General Rod Rosenstein had concluded there wasn't sufficient evidence to make that accusation against the president.
    Islamic State driven from final Syria territory: White House

    Islamic State driven from final Syria territory: White House

    Asked if he was satisfied the United States was at that point, Thomas said: "I do not think we're there yet". Instead, the culmination of that vision came in a dust-swept hamlet on Syria's border with Iraq on Saturday.
    Thais vote in long-delayed elections, exit poll indicates opposition victory

    Thais vote in long-delayed elections, exit poll indicates opposition victory

    A statement from Prayuth's office said he thanked people for voting and officials for holding the election in an orderly fashion. His affiliated parties have won every Thai election since 2001, drawing on loyalty from rural and urban poor.