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.
Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion USA, according to a media report.
The second-largest USA ride-sharing company's valuation could top $15 billion in the public markets, said the person, who asked not to be named because the discussions are private.
The documents were reportedly delivered last month by Goldman Sachs and Morgan Stanley, the two banks which were already understood to be the chief contenders to lead the initial public offering prior to Tuesday's reports.
Spokespeople for Lyft and J.P. Morgan declined to comment.
Under Khosrowshahi, Uber has moved to boost transparency and become more accountable. 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 vehicle unit Waymo over allegedly stolen trade secrets.
Uber briefly suspended tests of self-driving cars in March following a fatal accident in Arizona.
If it does, and at that price, the company would be worth more than Ford Motor Co., General Motors Co. and Fiat Chrysler Automobiles combined. JPMorgan Chase will lead the offering, along with Credit Suisse and Jefferies Group, the Journal said.
They are also said to indicate that the initial public offering could take place early next year, sooner than had been expected. Lyft has discussed worldwide plans but so far has expanded only to a handful of cities in Canada.