MoneyMark Cuban had the chance to invest in Uber when it was only worth $2 million but blew off Travis Kalanick and said he 'wouldn't touch' the company
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- Mark Cuban turned down the opportunity to invest in Uber back in 2010, saying he "wouldn't touch a 2mm valuation."
- Cuban called it his "biggest miss ever" when sharing the email exchange and congratulating Kalanick on Twitter on Friday morning as Uber went public on the New York Stock Exchange.
Back in 2010, long before ride hailing startup Uber became a tech "unicorn" worth billions, founder and former CEO Travis Kalanick offeredthe chance to invest.
Game of Thrones blew it
Game of Thrones blew it
He turned it down.
"This is high risk, medium reward," Cuban wrote in an email to Kalanick in June 2010, which heon Friday ahead of Uber's debut on the New York Stock Exchange. "I wouldn't touch a 2mm valuation, let alone 5mm."
— Mark Cuban (@mcuban) congrats on a day I know you've been waiting a long time for. And for being my biggest miss ever :)
Now, Uber has priced its IPO at $45 per share, giving it an initial valuation of $75.5 billion, and is set to have- even despite the fact that buzzy tech firms like Slack and Pinterest are expected to go public this year. It's also expected to be the largest IPO in the tech sector since Facebook went public in 2012.
Why Oprah stopped flying commercial and bought a private jet
"I wrote that first check — because I can't stand bills — for my first G4 [jet] for the full $25 million," Oprah Winfrey told The Hollywood Reporter. Winfrey said she struggled with the idea of the purchase, trying to justify it "like, 'OK, if I put 10 people on the plane, that would've been how many airfares would I have to pay for?'" But there was no justifying it. (Bill Cosby told her at the time, "You'll never be able to justify it because it's a true luxury.") So she just went for it. "I wrote that first check — because I can't stand bills — for my first G4 [jet] for the full $25 million," Winfrey said.
When sharing the email exchange on Twitter, Cuban wrote that it was his "biggest miss ever" and congratulated Kalanick.
Uber will begin trading on the New York Stock Exchange Friday morning under the ticker UBER . The company'sKalanick, who owns an $8.6% share in the company, co-founder Garrett Camp, who owns a 6% stake in Uber, and current CEO Dara Khosrowshahi, who owns 196,000 shares. Softbank also holds a 16% stake in Uber.
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