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Goldman Sachs just revealed it made a nice profit off Uber ahead of an IPO it hopes to help run

Posted On: Jan 16, 2019   |   Posted By: Business Insider

Goldman Sachs just revealed it made a nice profit off Uber ahead of an IPO it hopes to help run

Goldman Sachs on Wednesday disclosed its sale last year of a stake in Uber.
It was part of CFO Stephen Scherr's extended explanation of the Wall Street firm's investing and lending segment.
Goldman's fourth quarter results got a boost from the segment, which makes equity and debt investments in hundreds of companies and has historically been considered a "black box."
Uber is considering an initial public offering this year, and may choose Goldman Sachs to help with the deal. It's already selected Goldman's chief rival, Morgan Stanley, to lead the IPO, according to reports.
Goldman Sachs may be angling for a key role in Uber Technologies' eventual IPO, but that doesn't mean it can't make a little money from the ride hailing app while it waits.
The Wall Street firm last year sold off part of its stake in Uber to a group of investors led by SoftBank, its chief financial officer disclosed on Wednesday. He didn't say how much Goldman had sold, or what stake remained, but it accounted for some of the $4.5 billion...

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