Wednesday, 21 November, 2018

Uber IPO proposals value company at US$120 billion

Saudi Arabia Begins Probe Into Khashoggi Disappearance Saudi Arabia Begins Probe Into Khashoggi Disappearance
Jean Garcia | 17 October, 2018, 01:48

The proposed valuation of the company is about $50 billion more than the company's most recent valuation, setting the stage for what would be one of the biggest listings ever. However, an IPO in early 2019 may prove tempting if Uber wants to steal a lead on smaller rival Lyft, which is thought to be planning its own IPO for March or April.

Uber CEO Dara Khosrowshahi talks to FOX Business' Susan Li about the company's IPO plans for 2019, its new safety measures on the app and politics in Silicon Valley.

Goldman Sachs Group Inc. and Morgan Stanley delivered the proposals to San Francisco-based Uber last month, the Journal reported, citing the unnamed people.

Banks have suggested to Uber that it could be valued as much as $120 billion, according to The Wall Street Journal.

UEFA Nations League: Ireland 0-1 Wales
The first half wasn't great but we made up for it in the second half. "The determination pleased me, to not give a goal away". It's been a tough week, but this team we showed real character and spirit.

An Uber spokesman declined to comment.

Uber is due to make a market debut by the end of 2019 as part of an investment deal with Japan's SoftBank, which has a stake of some 15 per cent. Last month, it settle an investigation into a 2016 data breach with a payment of US$148 million, and earlier this year reached a settled with former Google auto unit Waymo over allegedly stolen trade secrets.

Separately, Uber rival Lyft had selected JPMorgan Chase as the lead underwriter, a source told AFP.

They are also said to indicate that the initial public offering could take place early next year, sooner than had been expected. "I can guarantee you that we'll be ready, and hopefully the markets will be ready for us".

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