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Uber IPO
AP Photo/Eric Risberg
Big, but not the biggest.

Uber’s $8.1 billion IPO barely makes it into the top 10 US IPOs

By Natasha Frost

From our Obsession

Big Tech

Looking at Big Tech as the next Big Oil.

This post has been updated to reflect Uber’s pricing of shares 

This is expected to be a record year for initial public offerings, with analysts estimating more than $100 billion will be raised. Ride-hailing company Uber is likely to be one of the largest: After pricing its shares today, the company raised $8.1 billion. Its shares begin trading tomorrow, and the market will judge how accurately Uber valued itself. (All this from a company a long way off ever making a profit.)

But $8.1 billion, however impressive, pales in comparison to such heavy-hitters as Alibaba, Visa, and post-bankruptcy General Motors, which all raised more than twice as much. Fourth up among US IPOs is Italian electricity company Enel, which no longer trades in the US—though the $17.4 billion it raised in 1999 would likely be as much as $26.6 billion in today’s dollars.

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