Uber’s initial public offering may have made history, but not for the reasons most of its investors were expecting, especially those who bought shares in later funding rounds.
After Uber’s post-IPO stock drop, late-stage investors who put almost $17 billion into the ride hailing giant—about 77% of its total equity funding—over the past three years are currently looking at a paper loss. Numerous other funds and companies—including Microsoft—that invested a further $842 million in 2015, were up barely 1% after Uber shares clawed back some of their losses on Tuesday.
