Uber 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.
Uber’s target is almost a quarter more than the $76bn valuation at which it raised $500m from Toyota last month, and would make its IPO one of the biggest from the technology sector.