After rivaling for customers since years for skyrocketing their ride-sharing business, the two renowned transportation network companies, Uber and Lyft, are now set for combatting for fetching investors in their initial public offerings.
Having received proposals from investment banks namely Morgan Stanley and Goldman Sachs, Uber is estimated to be a worth of as big as $120 billion in an initial public offer, as briefed by two of the people involved in this matter. If it is 4120 billion then this debut by Uber on Wall Street would be the biggest one after Jack Ma’s Alibaba, who began trading on the New York Stock Exchange in 2014.
Concurrently, Lyft has opted for JPMorgan Chase & Co., Credit Suisse Group AG, and Jefferies Financial Group Inc., for topping the IPOs by the first half of 2019. These banks have proposed deals worth $18 billion and $30 billion.
Confirming about the same, Dara Khosrowshahi, Uber’s CEO, has publicly announced that the company has decided to target the offering by the second half of the next year. Nonetheless, he is considering to move the date up with his desires for making its company go public in the first half of the year itself, confirmed few people associated with the matter.
The Increasing obstacle for this California based company, which already has lost over $11 billion since its commencement, is the timing clash with Lyft, whose officials are planning to put the company for listing by March or April in the year of 2019. The timing could create conflicts for both of the rivalries just like the one of Alibaba and JD.com, which went public at the same time creating hurdles for each other.