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Uber’s turmoil has reportedly taken a toll on its valuation





Travis Kalanick

Uber’s series of scandals have finally started to affect the company’s value, the Wall Street Journal reports.

Four mutual funds that have invested in the app-based taxi company have marked down their stakes in it by as much as 15%, according to The Journal. Together the moves represent the first major set of markdowns to hit the company, which has faced near-continuous turmoil since late last year.

Uber’s stock, which is privately held, had been valued at $48.77 per share since late 2015. At the end of June, though, Vanguard Group, Principal, and Hartford Funds all valued it at $41.16 per read more >>>

Source:: BusinessInsider.Com

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