uber ipo CEO Dara Khosrowshahi

Ride-hailing giant Uber went public today in one of the largest US IPOs on record.
Uber’s path to an IPO has come at a cost. Uber has increased spending on sales and marketing over the past two years to attract riders and drivers.
Uber shelled out $3.2 billion on sales and marketing in 2018, up 25% from 2017, the company reported. In 2017, Uber spent more than $2.5 billion — 58% over 2016.
Recent campaigns have promoted the company’s diversity efforts after a spate of PR crises in 2017.
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Ride-hailing giant Uber went public today, in what is one of the largest US IPOs on record. The company priced its shares at $45, amounting to a valuation of $75.5 billion.

But Uber’s path to an IPO hasn’t come cheap. Uber has increased spending on sales and marketing over the past two years to attract riders and drivers, according to its registration statement.

Uber has steadily pumped more money into advertising

Uber shelled out $3.2 billion on sales and marketing in 2018, 25% more than in 2017, the company reported in its filing. Competitor Lyft, which also recently went public, spent $800 million on sales and marketing …read more

Source:: Businessinsider – Technology

      

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