Rideshare giant Uber is reportedly planning to sell around $10 billion worth of stock at a valuation between $90 and $100 billion in its upcoming planned IPO.
According to a recent report by Reuters that cites insiders familiar with the matter, Uber is expected to make the details of the offering and its financials public on Thursday. While investment bankers previously told Uber it could be worth as much as $120 billion, the company has tempered expectations given the current investor appetite.
Uber will kick off its investor roadshow during the week of April 29 with a rough expectation to begin trading on the New York Stock Exchange in early May.
This news comes a week after Lyft priced its initial public offering at $72 a share, valuing the company at around $20.5 billion. The amount was above its original proposed price range of $62 to $68, and, despite kicking off trading above $87 a share, the stock is now down to $67.44.
Uber was previously valued at $76 billion based on its private fundraising rounds.