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Uber IPO: Inside The 2008 Pitch That Birthed An $80 Billion Startup

Uber's founders in 2008 thought the best-case scenario for what they were calling UberCab was to hit $1 billion in revenue. Their "more realistic success scenario"? Reach 5% of the top U.S. cities and generate $20 million in profits. Talk about being short-sighted. Even the super-sized ambitions of founder Travis Kalanick didn't envision what would transpire: $11 billion in revenue, 100% of the top U.S. cities (30% of the world's countries), and an IPO that values the ride-hailing company at $82 billion — nearly as much as the market capitalization of Ford and General Motors combined. On Friday, Uber starts trading on the New York Stock Exchange after raising $8.1 billion in the biggest U.S. IPO in five years. Over 91 million people use it monthly.

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