Uber prices IPO at $44-50, to raise $7.9-9B, PayPal takes $500M stake in strategic partnership

Uber, the transportation-on-demand behemoth, today filed its much-anticipated updated S-1 today where it announced that it would be pricing its initial public offering at $44-50 per share.

Selling 180M common shares, Uber plans to raise between $7.9 billion and $9 billion ahead of its public debut on the NYSE, valuing it at $84 billion — squarely in the middle of the $80-90 billion that was projected as late as yesterday.

Separately, there was a surprise announcement in the S-1: PayPal said it would make a $500 million investment in the company in a private placement, as part of an extension of the partnership between the two, whether they will develop new digital wallet services.

PayPal has been working with Uber providing payment services since 2013 and is its lead processing partner in the US and Australia (but not the only one globally).

This is the second big pre-IPO investment that Uber has announced this month. Last week, it announced a strategic $1 billion investment from SoftBank, Toyota and auto parts maker Denso, which valued the company at $7.25 billion.

The $500 million placement is being made at the same valuation as the IPO price range,

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