New York: Uber Technologies’ long awaited initial public offering could be a record setter.
The ride sharing service received proposals valuing it at as much as $120 billion, according to the Wall Street Journal, which cited people familiar with the matter. That’s nearly twice as high as the valuation from a fundraising round just two months ago.
At a $120 billion valuation, Uber would only have to offer about 21 per cent of its shares to become the largest IPO of all-time.
The record is currently held by Alibaba Group Holding. The Chinese conglomerate listed $25 billion worth of shares representing about 15 per cent of shares outstanding on the New York Stock Exchange in September 2014.