Uber has filed for an IPO which has come just days after rival company LYFT went for a similar move. Uber will now become a publicly traded company. Both the companies are seen targeting their initial offering which is set to come early next year.
It is claimed that Uber's initial public offering is set to be the biggest technology listings ever. It is estimated by industry analysts that the company could be valued at as much as $120 billion for the IPO.
Uber's quarterly financial reports show slow growth in Q3 2018 with an overall loss of $1.07 billion. However, the firm's scale remains impressive with gross bookings of $12.7 billion and revenues of $2.95 billion.