Uber could be worth as much as $120 billion

Lloyd Doyle
October 17, 2018

The proposals from United States banks suggested Uber seek a valuation much higher than the $76bn it was valued at in August during its most recent fundraising round.

Uber and smaller rival Lyft's initial public offerings, both expected in 2019, will test investor tolerance for money-losing technology unicorns.

Dara Khosrowshahi, who took over as chief executive a year ago, said in September that Uber was on track for a 2019 IPO, adding that he was not concerned if Lyft went public first because he expected enough demand for both companies.

The ride hailing company's most recent valuation was pegged at $76 billion, following a $500 million investment from Toyota Motor Corp in August.

Uber offered no comment on the IPO plans.


"There's no guarantee. You don't know what the market is doing", Khosrowshahi told FOX Business last month.

Under Khosrowshahi, Uber has moved to boost transparency and become more accountable.

Uber reported a loss of US$891 million in the second quarter as revenues jumped 63 per cent to US$2.8 billion, with bookings hitting US$12 billion. It resumed testing in Pennsylvania in July, but with a driver behind the wheel at all times, the company said. JPMorgan Chase will lead the offering, along with Credit Suisse and Jefferies Group, the Journal said.

An IPO at that amount, which could take place early next year according to the Journal, is nearly double Uber's recent valuation of about $70 billion.

The two San Francisco firms have been in a heated race in the USA market.

Other reports by Iphone Fresh

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