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10 May 07:44 PM

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Q1: Is my understanding correct?
Uber last borrowed money $76 billion from Toyota.
And at this moment people bought Uber's shares for $43.89 per share, which raised $74 billion.
So Uber is $2 billion in debt at this moment.

Q2:
Uber was/is a huge company with a lot of cash.
Why did Uber borrow money from Toyota?

Context>>>>>>>>>>>>>>>>
Uber Technologies Inc. fell in its trading debut, leaving the company’s market value below its last private funding round.

Shares of the ride-hailing giant opened at $42, under their IPO price of $45. They were down 2.5% to $43.89 at 2:36 p.m. in New York Friday, giving the business a market valuation of almost $74 billion. Uber last raised money from Toyota Motor Corp. in August at a valuation of about $76 billion.

The stock earlier dropped as much as 8.8% to $41.06 as U.S. equities extended losses, with the S&P 500 poised for its biggest weekly drop this year. Trade tensions between the U.S. and China are weighing on investors’ minds after President Donald Trump boosted tariffs on $200 billion in goods from China.

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