Report: Uber IPO Coming in April

March 14, 2019 at 4:54 PM

Rider-hailing service Uber Technologies Inc. intends to launch a long-awaited initial public offering next month, sources tell Reuters.

The offering will closely follow the IPO expected to begin later this month for smaller rival Lyft Inc. Both companies indicated their intentions to the U.S. Securities and Exchange Commission in December by filing initial paperwork on the same day.

Uber has estimated its market valuation at $120 billion. That compares with Lift’s $20 billion-$25 billion. Last year Uber and Lyft reported revenues of $11.3 billion and $2.2 billion, respectively.