Investors are fighting for a cheap slice of Uber. The company is courting three sets of investors who want new or larger stakes by buying shares from existing investors, according to The New York Times. That may look like a boon, given the company looks like a bonfire right now, but all the offers would involve Uber for the first time selling a large number of shares at or below its latest valuation. The company has most recently been valued at $68.5 billion, or £53 billion.
Uber’s board has so far voted to move forward with two of the three proposals. The first is from an investor coalition led by Dragoneer Investment Group, whose portfolio includes Spotify. General Atlantic, which has invested in Airbnb and Snapchat, is also part of the group. The group has offered to buy shares from existing investors at a discount. [ Business Insider ]