» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X

Forgot your password?
Skip Navigation LinksHome > Article
VOL. 42 | NO. 32 | Friday, August 10, 2018

Uber faces new roadblock in New York on its way to IPO

Print | Front Page | Email this story

SAN FRANCISCO (AP) — Uber will have to navigate around a new regulatory pothole in New York on an already bumpy road to its initial public offering of stock next year.

New York City is imposing a one-year moratorium on new ride-hailing licenses in Uber's largest U.S. market, raising the specter that other cities may adopt similar crackdowns as they try to ease traffic congestion.

If that were to happen, it would be more difficult for Uber to boost its revenue and reverse its history of uninterrupted losses. That, in turn, would affect the price that investors are willing to pay for Uber's stock in the IPO that the San Francisco company plans to make next year.

Uber maintains that New York's moratorium is a bad idea.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0