Uber IPO could be worth up to $120B

By TechnologyFOXBusiness

Uber CEO Dara Khosrowshahi talks IPO plans and the app's new safety features

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 is considering going public as early as the first half of 2019, earlier than the company previously indicated.

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As reported by The Wall Street Journal citing people familiar with the matter, Uber has received proposals from Morgan Stanley and Goldman Sachs, which value the ride-hailing company around $120 billion. Much larger than smaller rival Lyft whose market value is estimated around $15 billion.

Uber has been considering going public for some time. In early September, Uber CEO Dara Khosrowshahi said the company is on course to go public in the latter half of 2019.

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“There’s no guarantee. You don’t know what the market is doing,” Khosrowshahi told FOX Business last month. “I can guarantee you that we’ll be ready, and hopefully the markets will be ready for us.”

Khosrowshahi became CEO of Uber in August, replacing Travis Kalanick who was ousted in June 2017 after a number of scandals and reports of a “boy’s club” culture at the company, including allegations of sexual harassment and discrimination.

Uber did not respond to FOX Business' request for comment at the time of publication.