is preparing for an initial public offering in the next six months, a
timeline that would put its listing into direct competition with that of
smaller rival Lyft, according to people familiar with the matter.
Goldman Sachs and Morgan Stanley are set to be hired as lead
underwriters for Uber’s long-anticipated IPO, which will see the ride
hailing app target a valuation of more than $100bn, the people said.
Lyft has set its sights on an IPO as early as March or April, according
to people familiar with the matter.
One person close to Uber said the exact timing of the IPO would depend
on the overall performance of the market in the coming months after
signs that a bull run in tech stocks might be ending. Uber previously
said it was aiming to go public in the second half of 2019.
The lofty valuation reflects not just Uber’s core ride-hailing
operations but also its stakes in China’s Didi Chuxing, Russia’s Yandex
and Singapore’s Grab, as well as its other growing lines of business,
including food delivery and freight booking, the people said.