Uber Raises $8.1 Billion in IPO Priced Near Bottom of Range

Uber Technologies Inc. raised $8.1 billion in its initial public offering after pricing shares near the bottom of their marketed range.

The ride-hailing company sold 180 million shares for $45 each, according to a statement May 9. It had marketed them for $44 to $50 apiece.

Based on the amount of stock outstanding after the offering, the IPO price gives San Francisco-based Uber a market value of almost $74 billion, below its last private market value of $76 billion. The fully diluted value, including restricted stock units and other shares, could be about $82 billion.

Uber has prioritized selecting shareholders ...