Last week Uber Technologies Inc confidentially filed paperwork for its initial public offering (IPO), the Wall Street Journal reported on Friday, citing people familiar with the matter. Uber’s filing indicates it could go public as soon as in Q1 2019. That would be sooner than many observers had expected. The bankers said earlier that the San Francisco-based company could be worth $120 billion on the public markets.
Uber smaller rival Lyft Inc. filed confidential paperwork for IPO on Thursday, according to WSJ. The debut is scheduled in March or April, people familiar with the matter said. Both IPOs are shaping up to be among the biggest in 2019.
Uber had 69 percent of the U.S. market, while Lyft had 28 percent as of October, WSJ added citing Second Measure data.