By Kate Clark
The company filed confidentially for an IPO on Friday, marking the beginning a race for the two ride-hailing giants to the stock markets.
Uber’s most recent private market valuation was a whopping $72 billion, though the nearly 10-year-old business reportedly expects to debut on the stock exchange at a $120 billion valuation in what is easily one of the most highly-anticipated IPOs of the decade.
Uber didn’t immediately respond to request for comment.
Founded in 2009 by Travis Kalanick, Uber has raised a total of nearly $20 billion in a combination of debt and equity, according to PitchBook. SoftBank alone has invested billions in the company to become its largest shareholder. Uber’s other key backers are Toyota, which invested $500 million just a few months ago, as well as late-stage investors T. Rowe Price, Fidelity and TPG Growth.
Benchmark, First Round Capital, Lowercase Capital and others stand to earn big from Uber’s exit — all were among Uber’s investors in some of its earliest rounds.
Lyft, …read more
Source:: Tech Crunch Funding and Exits