EXCLUSIVE: UBER PLANS TO SELL AROUND $10 BILLION WORTH OF STOCK IN IPO

, Magazine

EXCLUSIVE: UBER PLANS TO SELL AROUND $10 BILLION WORTH OF STOCK IN IPO – SOURCES

Uber Technologies Inc has decided it will seek to sell around $10 billion worth of stock in its initial public offering, and will make public the registration of the offering on Thursday, people familiar with the matter said on Tuesday.

An IPO of this size would make Uber one of the biggest technology IPOs of all time, and the largest since that of Chinese e-commerce giant Alibaba Group Holding Ltd in 2014.

Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft Inc’s shares following its IPO late last month, the sources said. Investment bankers previously told Uber it could be worth as much as $120 billion.

Uber most recently was valued at $76 billion in the private fundraising market. fff