Uber's upcoming IPO could be worth as much as $120 billion, says report

The company is preparing to go public in 2019.

Marrian Zhou Staff Reporter
Marrian Zhou is a Beijing-born Californian living in New York City. She joined CNET as a staff reporter upon graduation from Columbia Journalism School. When Marrian is not reporting, she is probably binge watching, playing saxophone or eating hot pot.
Marrian Zhou
Uber logo on a smartphone.
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Uber's initial public offering may be worth well over a hundred billion.

The ride-hailing company has received proposals from Wall Street banks that value the company at as much as $120 billion in an IPO, according to The Wall Street Journal, which said the offering could take place early next year.

This comes after Uber CEO Dara Khosrowshahi said earlier this month that he planned for Uber to one day become ubiquitous on city streets and roads around the world.

Uber says it now handles 15 million rides or food deliveries per day. The service is in about 70 countries. The company launched dockless rentable bicycles in April and electric scooters earlier this month. The ride-hailing giant is the highest valued venture backed private company in the world, with a valuation of $72 billion.

Uber declined to comment.

CNET's Dara Kerr contributed to this report.