A latest round of funding puts a $51 billion price tag on Uber, but a famed valuation professor said it is actually worth a lot less than that.
Aswath Damodaran, professor at NYU Stern School of Business and a valuation expert, values the ride-hailing company at $23.4 billion, less than half its current sticker.
"The big difference here is in the story we tell about Uber," he told CNBC's "Squawk on the Street" on Friday. "I think Uber's story is that they are going to be everything, everywhere. They're going to be a logistics company globally, and if you buy that story I think they are worth a lot of money."