Uber may put forth an approve public offering early next year that values the ride-hailing company at as much as $120 billion US, according to a media report.
The Wall Byway someones cup of tea Journal said Tuesday that Uber Technologies Inc. received valuation designs from Goldman Sachs and Morgan Stanley last month. There is no guaranty Uber will fetch that valuation, or go public soon.
If it does, and at that evaluation, the company would be worth more than Ford Motor Co., Non-specialized Motors Co. and Fiat Chrysler Automobiles combined.
The ride-hailing company’s most fresh valuation was pegged at $76 billion US, following a $500-million investment from Toyota Motor Corp in August.
There are handicaps for Uber, past and present. In addition to a series of scandals including workplace genital harassment, theft of intellectual property and the ouster of its co-founder, the company is faade increasing competition.
Uber and smaller rival Lyft have been actively preparing to go exposed next year. While Lyft has hired IPO advisory firm Assort V Group LLC, Uber is behind in its preparations.
Uber hired Nelson Chai as its chief economic officer in August, filling a long-standing vacancy and clearing the way for its much-anticipated IPO.
Uber refused to comment on the Wall Street Journal report.