The next big thing in tech is going to be the Uber IPO.
That’s according to the billionaire who is one of the richest investors in the world, Warren Buffett, and who’s been investing in tech companies for decades.
“Uber is really unique.
It’s a very disruptive technology,” Buffett said at the Business Insider Summit.
“It’s not going to take a lot of money to build a company that will be so disruptive, but you have to have that money to do it.”
Buffett, who owns more than $30 billion in Berkshire Hathaway stock, said that he’s investing in companies that have disruptive ideas that can have a big impact on the world.
Uber, the ride-hailing company, has been gaining traction in the US as the number of drivers has grown in recent years.
But it’s been a long time coming for the company, and the $90 billion valuation of the company puts it on track to be valued at $2.5 trillion by 2021.
Buffett’s comments came just a day after Uber announced it has raised $100 billion in financing from some of the world’s biggest investors including the world leaders Warren Buffett and Carlos Slim.
In an interview with CNBC, Buffett said that Uber has a “really unique” IPO, in part because it’s already in a position to get a valuation of $2 billion or more.
“We’re not talking about some billion dollar company,” Buffett told CNBC.
“We’re talking about a company with a billion dollar valuation.
I think that’s a really unique thing.
I mean, it’s a $1 billion company that’s going to have a million people in the U.S., a million workers.
It has a really different valuation.”
Buffetts comments came on the same day that Facebook, another disruptive technology company, went public at $18 billion.
The company’s stock rose from a low of $10.85 a share in August, to $26.80 a share on Thursday.
The stock closed at $26 on Friday.
Uber has raised more than two-thirds of its $100.5 million valuation in the last few years, according to financial analysts, who say it’s able to do so because of its focus on creating jobs and growing the company.
But some analysts say Uber needs to do more to reach those goals.
The stock was trading at a discount to its IPO price last week, when investors saw that Uber could generate $100,000 for every $1 million of Uber’s initial public offering proceeds.
In the last two months, the company has generated more than a billion dollars in revenue, and Buffett said Uber should be able to generate more than that for itself in the future.
Buffetts views Uber as a disruptive technology, and that could have a huge impact on how tech companies move forward.
“They are in a unique position, because they have an idea that’s very, very disruptive, they’re building it out in a very competitive market, and they’re a very, really unique company that has been building this out for years,” Buffett wrote in an email to CNBC.
Buffers comments come after the company raised $2,200 million in venture capital funding in May.
The investment is the second round of financing that Uber secured in the past two months.
It also received $50 million from investors like Google Ventures, Kleiner Perkins, and Fidelity Investments, as well as the billionaire investor Mark Cuban.
Buffets comments come as the company continues to face scrutiny over its use of driverless vehicles.
The technology has been criticized by lawmakers and civil liberties advocates, and regulators are weighing whether the technology can be used for commercial purposes.