Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.