Thursday, June 27, 2019

Google Ventures: 5% of Uber, 20x in 6 years

Alphabet Uber investment stake has gone up 20x since 2013

"Six years after making what at the time was its largest venture investment ever, Google’s $258 million bet on Uber has multiplied by about 20-fold to be worth more than $5 billion.

According to Uber’s IPO prospectus filed on Thursday, Google parent Alphabet owns a 5.2 percent stake in the ride-sharing company. With Uber reportedly looking to go public at a $100 billion valuation, Alphabet’s shares are worth about $5.2 billion,

...Alphabet also invested $500 million in Uber arch-rival Lyft through its late-stage investment arm, CapitalG, in October 2017. Its 5.3 percent stake in Lyft is worth $783 million"