Smartphones have radically changed the way we consume products and services. Businesses are shifting to online mobile applications that you can download for free and get access to a host of services. LUPA or PAUL Stocks have played an integral role in the new modern world to which everyone has become accustomed. Here’s an introductory guide on what is a LUPA Stock.
What are LUPA stocks?
A product of the now common app-generation, LUPA or PAUL is the acronym referring to a group of four privately-owned technology companies which are testing the public markets. These companies, although born in the 21st century already boast of estimated valuations in billions. Let’s understand the four companies that makeup LUPA stocks.
L stands for Lyft
Founded as an intercity carpooling company in the USA, in 2007, Lyft was formerly known as Zimride. In 2012, the company was rebranded and officially named as Lyft. Lyft offers its customers a wide range of services including car rides, bicycle-sharing systems, scooters and food delivery services through its mobile application. This LUPA Stock was valued at USD 24 billion on its first trading day, with each share being traded at USD 87.24, 21 percent above the IPO price of USD 72 per share.
U stands for Uber
Uber started as a ride-hailing company in 2009 and expanded into businesses like scooter and truck rentals and even food delivery. Uber holds the record of being the highest-valued private start-up in history, currently operating in 63 countries and 785 metropolitan areas. Uber became a public company in May 2019 via an IPO. The company expects to be profitable by 2021.
P stands for Pinterest
Founded in 2010 as a photo-sharing and online pin-up board, Pinterest, a LUPA stock company, claims that its platform witnesses over 250 million users each month. Pinterest shares rose more than 25 percent during its first trading session on the NYSE, with each stock being traded at USD 19, as opposed to the expected price of USD 15 to USD 17 per share. The share closed at USD 24.40 per unit on the first trading day at a total evaluation of USD 12.7 billion.
A stands for Airbnb
The final LUPA stock, Airbnb, is a short-term lodging rental platform that provides access to over five million places across 191 countries and 81,000 cities. The company first served as a channel between travellers and hosts and later expanded into tourism services as well. The company intended to launch its IPO in mid-2020, but had to stop its plan owing to the Covid-19 pandemic. In its most recent fund-raising round in May 2020, Airbnb received a valuation of USD 31 billion.
LUPA stocks in the share market have indeed changed the way we lived a decade ago. Such is the popularity of these companies that they have completely transformed the way we buy things, work, travel, and have fun. While these stocks are not traded on the Indian Stock Exchanges, you can still invest via NYSE and NASDAQ. To know more about investing in LUPA stocks, you can get in touch with our team of experts at Angel One.