Uber Technologies joins list of Silicon Valley firms with an IPO filing

SAN FRANCISCO — In a regulatory filing this week, Uber said it will list its shares on the New York Stock Exchange under the symbol “UBER.”

Uber Technologies has decided it will seek to sell close to $10 billion worth of stock in its initial public offering, and made public the registration of their offering. According to CNBC, an IPO of this size would make Uber one of the biggest technology IPOs of all time, and the largest since that of Chinese e-commerce giant Alibaba Group Holding in 2014.

Uber seeks a valuation between $90 billion and $100 billion, influenced by recent poor performances of smaller rival Lyft’s shares following their IPO late last month. CNBC also stated investment bankers previously told Uber it could be worth as much as $120 billion.

— Photo credit: UBER
Sources: CNBC and SEC

 


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