The company will raise roughly $8 billion with a market value of $82 billion, falling short of what investors once hoped would be a $100 billion valuation.
It is an underwhelming result for the most anticipated IPO since Facebook Inc's market debut seven years ago.
Even at the low end of the price range, Uber's listing is set to be among the 10 largest U.S. IPOs of all time and the biggest on a U.S. exchange since Alibaba Group Holding Ltd.'s $25 billion global record holder in 2014, according to data compiled by Bloomberg.
Why Prince Harry & Meghan Markle's Son Archie Is Not a Prince
According to the site BabyCentre , the name Archie has English origins and means "genuine" and "bald" , meaning "bold" or "brave". Meghan's mum Doria Ragland, who came to the United Kingdom from LA for her first grandchild's arrival, was also in the picture.
No matter how the stock swings, the IPO has to be considered a triumph for the company most closely associated with a ride-hailing industry that has changed the way millions of people get around while also transforming the way millions of more people earn a living in the gig economy.
Investors say they're hesitant to buy Uber's stock out of the box because of what happened with Lyft, and want to see it settle before buying significant amounts of shares, said Dan Ives, managing director of equity research at Wedbush Securities.
Uber's valuation is nearly a third less than the valuation of up to US$120 billion that its investment bankers predicted previous year.
Uber is suffering a bad first day as a public company as its shares slid into negative territory in the initial moments of trading.
Student killed in STEM School Highlands Ranch shooting identified
One of them, according to Spurlock, was being restrained by the school's security officer when police took them into custody. Nicholson-Kluth said police and deputies got there nearly immediately and heard shots as they arrived.
The jitters about an intensifying US trade war with China also have roiled the stock market this week. The evil ridesharing empire lost $3 billion last year, and $4 billion the year before that, and it was so excited about losing one less billion dollars than it usually does that it decided now was a great time to go public. And when it is the only game in town, it's going to ratchet up its prices and wring every bit of money out of the drivers who make up its workforce.
Uber's stock was trading at about three per cent lower than its IPO price Friday afternoon.
Uber has said that it has the potential to grow not just in the cab hailing business, but also as a "superapp" to provide a variety of logistic services, such as grocery and food delivery, organizing freight transportation, and even financial services, much like Grab, its Southeast Asian counterpart.
Uber might be even more popular if not for a series of revelations about unsavory behavior that sullied its image and resulted in the ouster of its co-founder, Travis Kalanick, as CEO almost two years ago.
Prince William’s dad joke to new father Harry
Add Royal Family as an interest to stay up to date on the latest Royal Family news, video, and analysis from ABC News. There is no word yet on what Canada is giving the seven-pound-three-ounce baby who doesn't yet have a name.
Uber is one of those companies that's down to lose a buttload of money in pursuit of a monopoly over its industry.