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I'm not too familiar with this, but I have read a few stories on Bloomberg about some of the large investment banks selling chunks of shares of Uber to their cl
by wtvanhest 11y ago
I'm not too familiar with this, but I have read a few stories on Bloomberg about some of the large investment banks selling chunks of shares of Uber to their clients. Just the other day they said they reduced the minimum order size as well (I think they said $25k).
I have done zero digging, but it doesn't shock me that people at JP Morgan and other investment banks are making calls to their private wealth management clients to offer them shares in large private 'unicorns'
- myth_buster 11y agoDidn't this happen during the sub-prime crisis where the firms sold their toxic assets to their clients.
- rhino369 11y agoThis is probably different. The problem with the subprime crisis was banks had to keep the mortgage assets on their books. They'd buy it -> package it -> sell it. Some banks realized, damn this shit is going to be worthless. And they sold their toxic assets. Here, the banks don't buy a stake in Uber until they arrange the pool of investors. Or maybe they are selling shares from other clients who want to get out of the investment. It's doubtful the banks themselves have Uber equity on their books.
- aagha 11y ago"Goldman Sachs, itself an early investor in Uber through its venture arm"... http://qz.com/305996/all-the-ways-investment-banks-are-cozying-up-to-uber-ahead-of-a-possible-ipo/ http://qz.com/305996/all-the-ways-investment-banks-are-cozyi...