It’s been revealed by Business Insider that Uber have filed an S-1 document in preparation of launching an IPO.
Uber may go public with a valuation of a staggering $120 billion, which is in stark contrast to an initial valuation of around $76 billion.
The prospective IPO, which is being referred to as “Project Liberty,” may be launched as early as the first quarter.
Lyft had announced, one day prior to Uber, that it had filed paperwork to launch an IPO. This leaves the two private hire giants battling against each other as to who will float on the markets first.
Uber haemorrhaged nearly $1 billion in the third quarter of this year, whilst Uber have expanded their portfolio by moving into bike and scooter operations, as well as making further investments into its Uber-Eats food delivery arm.
Uber, which has been beset by numerous scandals, is now trying to move on from its problematic past as it makes the move to go public.