Uber Fans May Feel Like ‘Game of Thrones’ Fans
A great story. A great cast of characters. Lots of anticipation. And then, disappointment.
Not making much of a splash.
Photographer: Justin Sullivan/Getty Images North AmericaUber Technologies Inc.’s IPO is starting to look like the final season of “Game of Thrones” – a wildly hyped, long-awaited event that underwhelms. At least no stray coffee cups have appeared yet.
The ride-hailing app will price its share offering tonight and start trading tomorrow. As Matt Levine writes, demand looks to be “sort of meh,” probably not helped by broader market anxiety and the more-than-meh performance of rival Lyft Inc. after its March IPO. Uber’s initial price may be lower than it was three years ago, Matt notes. That’s partly a function of how unusually long Uber has been private, but it also means that traditional, golden, post-IPO moment when early investors get ridiculously rich, and later ones get much less rich, has already passed.