In light of the rapidly changing coronavirus (COVID-19) situation, Troutman Sanders and Pepper Hamilton have postponed the effective date of their previously announced merger until July 1, 2020. The new firm – Troutman Pepper – will feature 1,100+ attorneys across 23 U.S. offices. Read more.
Steven R. London, a partner with Pepper Hamilton and a member of the Corporate and Securities Practice Group, was quoted in October 16, 2018 CBS MoneyWatch article, "Uber IPO Could Value the Company at $120 Billion."
"The really important consideration for both Uber investors and investment bankers is, where would you go from there? Over the next couple of years, you have to have a track record that will need to exceed that market cap," said Steve London, partner in the corporate and securities practice group at Pepper Hamilton. "To justify this huge valuation, they have to show continuing growth, and that's very difficult."
"This is not just a ride-sharing play," said London. "But at the end of the day, the institutional investors are the ones that actually set the price. They will respond, 'Yeah, that's a valuation that I can live with,' or not, and they have to be convinced."