Ride hailing platform Uber is aiming for a valuation of close to $80-$90 billion in its IPO, just above what it got in its last funding round, Bloomberg reported citing sources close to the matter.
According to the report, the company is planning to start marketing the shares to potential investors at a $44-$50 price per share. Uber could aim to raise close to $8 billion-$10 billion in the listing.
Initially, it was speculated that Uber could be valued at $120 billion during its initial public offering.
Recently, in its filing, the company showed strong growth but an ongoing struggle to overcome huge losses and repair its reputation.
Documents released on Thursday, 11 April, showed that Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses over its 10 years in existence.
Uber’s revenue totaled $11.3 billion in 2018, a 42 percent increase from $7.9 billion in 2017, and a giant leap from $495 million in 2014.
(With inputs from Bloomberg.)
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