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Uber IPO Estimated at $120 Billion

Uber Technologies Inc. has received proposals from banks for an initial public stock offering valued at $120 billion, The Wall Street Journal reports.
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Uber Technologies Inc. has received proposals from banks for an initial public stock offering valued at $120 billion, The Wall Street Journal reports.

Goldman Sachs and Morgan Stanley delivered the proposals to the ride-hailing giant last month, sources tell the newspaper. Uber, which is yet to turn a profit, also is said to be considering moving up the IPO from the second half of 2019 to earlier in the year, The Journal says.

Reports earlier this year valued Uber at about $76 billion following a $500 million investment from Toyota Motor Corp. Japanese telecom giant, which led a consortium to buy 15% of Uber last year, is the company’s largest shareholder.

Last month CEO Dara Khosrowshahi confirmed plans to launch an IPO next year. Rival Lyft Inc. also is planning an IPO next year.

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