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Uber IPO may be worth all-time record $120 billion, says Wall Street Journal

The offering could easily eclipse the record held by Alibaba when it listed in 2014
Uber logo
Uber's IPO in 2019 could establish an all-time record in 2019

Uber Technologies has received proposals from a pair of Wall Street banks that value the company as much as $120 billion in an initial public offering, which would be an all-time record and is scheduled to take place in 2019, according to the Wall Street Journal.

The figure for the ride-sharing company is nearly double Uber's valuation in a fundraising round about two months ago and more than the value of General Motors (NYSE:GM), Ford Motor Co (NYSE:F) and Fiat Chrysler Automobiles N.V. (NYSE:FCAU) combined, the report said.

Top investment banks Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS) delivered the valuation proposals to Uber, it said.

READ: Lyft is zooming past Uber in the ride-hailing IPO race

At $120 billion, Uber's IPO will be almost five times higher than the all-time record IPO of Chinese e-commerce giant Alibaba (NYSE:BABA) which listed on September 18, 2014, and was valued at $21.8 billion. Visa (NYSE:V) came in at second place with an IPO worth $17.9 billion in 2008.

Uber is a ridesharing, taxi cab, food delivery, bike-sharing, and transportation network company. It is based in San Francisco, California.

Uber operates in almost 800 metropolitan areas worldwide.

Reporting by Rene Pastor, contactable on [email protected] 

 

 

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