The bad press plaguing ride-hailing firm Uber could have knocked $10bn off its share price, according to The Information. The privately-held company was valued at $60bn at the start of the year, but its recent scandals — from employee sexual harassment allegations to outbursts by its CEO — have caused share prices to tumble to the tune of about 15 percent, according to an unnamed trader. Uber's transaction volumes are rising, though it is difficult to gauge the extent of share sell-offs because the company is not traded on public exchanges, according to another broker cited by The Information.
The bad press plaguing ride-hailing firm Uber could have knocked $10bn off its share price, according to The Information. The privately-held company was valued at $60bn at the start of the year, but its recent scandals — from employee sexual harassment allegations to outbursts by its CEO — have caused share prices to tumble to the tune of 15%, according to an unnamed trader. Uber's transaction volumes are rising, though it is difficult to gauge the extent of share sell-offs because the company is not traded on public exchanges, according to another broker cited by The Information.