The way we consume services and products has been transformed by smartphones. Online mobile apps are being used by businesses to access a variety of services. LUPA and PAUL Stocks play an important role in this new world to which we have all become accustomed. This is an introduction to a LUPA stock.
LUPA, or PAUL, is a product of the app-generation. This acronym refers to a group four privately-owned technology companies that are testing the public markets. Even though they were founded in the 21st Century, these companies already have estimated valuations of billions. Let's look at the four companies that make up LUPA stocks.
Lyft was founded in 2007 as an intercity carpooling service in the USA. Previously, it was known as Zimride. Lyft was officially renamed in 2012 after the company's rebrand. Lyft provides a wide range services to its customers, including car rides and bicycle-sharing systems as well as scooters and food delivery through its mobile app. The LUPA Stock was valued USD 24 billion in its first tradingday. Each share traded at USD 87.24 which is 21 percent higher than the IPO price at USD 72 per share.
Uber began as a ride-hailing service in 2009, and has since expanded to include scooter rental, truck rentals, and food delivery. Uber is currently the most valuable private start-up ever, with operations in 63 countries and 785 metro areas. Uber was made a public company by an IPO in May 2019. Uber expects to become profitable by 2021.
Pinterest was founded in 2010 as a photo-sharing site and an online pin-up board. It is a LUPA stock firm. The company claims it has over 250 million monthly users. Pinterest shares increased more than 25% during the NYSE's first trading session. Each stock was traded at USD 19 instead of the expected price between USD 15 and USD 17. On the first trading day, the share closed at USD 24.40 for a total valuation of USD 12.7 million.
Airbnb is the final LUPA stock. It's a short-term lodging rental service that gives access to more than five million places in 191 countries and 81,000 locations. The company was initially established to facilitate travel between hosts and travellers. Later, it expanded into tourism services. The company had planned to launch its IPO by mid-2020 but was forced to halt its plans due to the Covid-19 pandemic. Airbnb was valued at USD 31 billion in its May 2020 fund-raising round.
The sharemarket has changed the way that we live a decade ago with LUPA stocks. These companies are so popular that they have revolutionized the way we travel, buy products, and have fun. These stocks are not listed on the Indian Stock Exchanges but you can still invest via NYSE or NASDAQ.