(Bloomberg) — Uber Technologies Inc. has recently received proposals from banks for an initial public offering valuing the ride-hailing company at as much as $120 billion, the Wall Street Journal reported, citing people familiar with the matter.
An IPO at that amount, which could take place early next year according to the Journal, is almost double Uber’s recent valuation of about $70 billion. Uber had long been one of the most valuable startups in the world, until China’s Bytedance Ltd. was said to be valued at $75 billion.
Goldman Sachs Group Inc. and Morgan Stanley delivered the proposals to San Francisco-based Uber last month, the Journal reported, citing the unnamed people.
Uber has been among the most highly anticipated IPOs. The company, founded in 2009, has raised a sizable amount of private capital, including from SoftBank Group Corp., which is its largest shareholder.
- Extreme Heat Makes It Hard for Kids to Be Active. But Exercise Is Crucial In a Warming World
- Pelosi's Visit to Taiwan Has Badly Damaged U.S.-China Relations, But Not Irreversibly
- Reality TV Has Reshaped Our World, Whether We Like It or Not
- Progress Is Not A Given. It is Won: The Connection Between James Baldwin and Toni Morrison
- The Inflation Reduction Act's Name Says A Lot About The Climate Fight
- How Reservation Dogs Became More than Just Must-See Television in Its Second Season
- The U.S Will Soon Have Space Force Ambassadors Around the World