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3 Massive Silicon Valley Tech IPOs on the Horizon

These tech IPOs could be the biggest new stocks to hit Wall Street in years

     

Massive Silicon Valley IPOs: Uber

Massive Silicon Valley IPOs: Uber

Of course, the crown jewel of potential Silicon Valley IPOs is ride-sharing company Uber. Based on its fundraising up to this point, the company that has crippled the taxi industry is currently worth around $60 billion. A $60 billion IPO would make Uber’s public market cap roughly 20% larger than cloud computing giant Salesforce.com, Inc. (NYSE:CRM) on day one.

Uber has more than 40 million monthly active riders and 160,000 drivers. Uber users have taken more than 2 billion rides in 450 cities around the world. Yet despite the major business the company is generating, it has chosen to hold off on an IPO for the time being. Uber generated $1.7 billion in net revenue in Q3, but also produced a net loss of $800 million. These types of numbers may seem scary to TWTR investors, who have suffered through TWTR’s struggles to turn a profit despite its popularity.

For now, Uber seems to be going all-in on its driverless cars initiative. CEO Travis Kalanick recently joked, “If I could push [an IPO] to 2030, I would.”

Hungry investors likely won’t have to wait that long to get a piece of Uber. Some market watchers are even speculating the Uber IPO could come by the end of 2017.

As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/3-massive-silicon-valley-tech-ipos-horizon/.

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