Human cloud, ride-sharing firm Uber Technologies Inc. (UBER:NYQ) began trading Friday on the New York Stock Exchange. However, shares in the San Francisco-based company closed down 7.62% on Friday to USD 41.57.

Uber shares started at USD 45.00 in its initial public offering on Friday, at the lower end of the range in a filing with the US Securities and Exchange Commision of between USD 44.00 and USD 50.00.

CEO Dara Khosrowshahi and others were at the New York Stock Exchange in person for the opening bell. Uber was one of the ten largest IPOs of all time, according to CNBC Television.

CNN.com reported the company raised USD 8.1 billion. The news outlet noted the fellow human cloud, ride-sharing firm Lyft was trading about 25% below its IPO price.

Uber had revenue of USD 11.27 billion for the year 2018, and it recorded net income of USD 997.0 million, according to a filing with the US Securities and Exchange Commission.

The company has experienced turbulence, particularly with laws in some areas and a number of drivers claiming they were misclassified as independent contractors. Uber said in a recent regulatory filing that arbitration claims of misclassification could cost up to USD 170 million. Some drivers also held a strike action this week over pay. Moreover, there is lingering concern over its licence to operate granted by Transport for London.