10 things in tech you need to know today
Business Insider reports that this valuation Uber an initial market cap of $75.5 billion.
That valuation is far below the $120 billion banks reportedly sought for Uber at the start of the IPO process.
The company is expected to raise $8.1 billion in the IPO, plus $500 million in a private placement from PayPal.
Uber is expected to start trading Friday on the New York Stock Exchange under the ticker "UBER."