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Human cloud: Uber now trading at around IPO price, testing helicopter service

June 07, 2019

Human cloud, ride-sharing firm Uber Technologies Inc. (NYSE: UBER) is now trading around its IPO price of $45 per share. And on Thursday, Greg Abovsky, CFO of Yandex, a Russia-based ride-hailing firm partly owned by Uber, told CNBC that investors are starting to understand the ride-sharing marketplace.

“What the Uber and Lyft trading performance is telling us is the market’s kind of starting to realize the value of the technology that goes into building these marketplaces,” Abovsky said.

Uber’s stock was trading at $45.05 as of 12:20 p.m. Eastern time, according to Yahoo. It had closed at $45 on Wednesday, but closed at $44.92 on Thursday.

In addition, Bloomberg reported Uber will testing a helicopter service in New York next month with helicopter rides available by app.

Separately, human cloud, ride-sharing firm Didi Chuxing is ramping up operations in Latin America. Wednesday, the China-headquartered company announced it began service in Valparaiso, Chile, and Bogotá, Colombia. The company in January 2018 acquired 99, a ride-hailing app based in Brazil, and it began operations in Mexico a few months later. Didi Chuxing ranks as the second-largest B2C human cloud company in the world after Uber, according to research by Staffing Industry Analysts.

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