Uber is expected to make its IPO registration with the US Securities and Exchange Commission on Thursday, sources described as familiar with the matter told the news outlet. An investor road show will begin at the end of April, putting the company on track to begin trading on the New York Stock Exchange in early May, sources said.
The ride-hailing startup is seeking a valuation of $90 billion to $100 billion, sources told Reuters. That range is a retreat of sorts from the previous valuation target of $120 billion investments bankers predicted before the Lyft's IPO last month.of rival
While Uber and Lyft offer the same service, hailing a ride with a smartphone app, it's expected each company will point potential investors to different aspects of their respective businesses. Uber will reportedly showcase itself as a global company with diverse features such as food delivery and flying cars. Lyft, much smaller, with services only in the US and Canada, is focusing on being a stable company that hasn't experienced the same kind of turmoil as Uber.
Uber didn't immediately respond to a request for comment.