Missed Investment That Cost Billions: Mark Cuban Revealed How He Ended Up Lowballing Uber!

Missed Investment of Mark Cuban

Cuban shared how he missed out on a golden opportunity with Uber, one of the world’s most successful rideshare companies, Benzinga reported. The co-founder of Uber, Travis Kalanick, pitched the idea of “Uber Cab” to Cuban, who was immediately intrigued by the concept. However, when it came to negotiations, Cuban made the mistake of lowballing Kalanick by proposing a valuation of $5 million instead of the $10 million valuation Kalanick sought.

Unfortunately for Cuban, Kalanick never came back to him after the lowball offer, and Cuban missed the chance to invest in what would become a groundbreaking and immensely successful company.

Cuban admitted that his reluctance to invest fully stemmed from concerns about Uber’s budget and the need for higher marketing and taxi cab commission expenses. He estimated that a mere $250,000 missed investment at a $10 million valuation could have turned into billions in returns today.

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Missed Investment of Kevin Hart

Kevin Hart shared a similar tale of missed investment as he, too, had the chance to invest in Uber, The Street reported. However, after being pitched by talent manager Troy Carter, Hart dismissed the idea, jokingly referring to it as “Murderville” and dismissing the concept as foolish. Looking back, Hart now regrets the $50,000 missed investment that could have resulted in hundreds of millions of dollars in returns.

Uber, founded in 2009 by Travis Kalanick and Garrett Camp, went public in 2019, and its market cap currently stands at an impressive $94 billion as of July 2023.

These stories serve as a reminder that even the most successful investors can experience significant missed investments, highlighting the unpredictable nature of the financial world and the importance of seizing the right opportunities at the right time.

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