TIME

Uber’s IPO highlights American divisions

THE INSTANT UBER SHARES HIT THE New York Stock Exchange on May 10, people and groups from the company’s ex-CEO Travis Kalanick to Saudi Arabia’s sovereign wealth fund are set to make millions, even billions, of dollars. In all, Uber’s initial public offering (IPO) could set the company’s value at as much as $90 billion, likely the year’s biggest such deal.

Uber’s nearly 4 million drivers, however, probably won’t benefit much. In fact, they’re likely to see take-home pay worsen in coming years, as the ride-share company, to meet shareholder

You’re reading a preview, subscribe to read more.

More from TIME

TIME7 min read
Catalysts
It’s been a long time since there was good news about Parkinson’s disease, a neurodegenerative condition that affects more than 8 million people worldwide. But that changed this year, thanks in part to Michael J. Fox’s perseverance in raising awarene
TIME3 min read
Kathleen Hanna
You’ve been in the public eye since you founded your groundbreaking feminist punk band Bikini Kill, over 30 years ago. When did you decide to write your memoir? I started talking about it when I was maybe 40. Then I got sick with Lyme disease, and th
TIME6 min read
A Marriage Of Food And Fiction
Knocking on the front door, it’s already clear that this is one of those dreamy California artist houses, its rich green paint and big windows lighting up a quiet street. Inside there are flowers on the bathroom shelf, music lilting in the background

Related Books & Audiobooks