One day afterdocumentation for an initial public offering. Uber sent a confidential deposit, the Wall Street Journal reported Friday, citing "persons who were familiar with the matter."
The move puts Uber and Lyft in a race on Wall Street, an indication that both Businesses expect investors to have an appetite for a single business. Analysts did not expect Uber to go public by the middle of next year, Recode reported Thursday.
With the submissions, both Lyft and Uber were brought up to scratch in the first three months of 201
As of October, Wall Street banks predicted that Uber could raise $ 120 billion on its IPO, Bloomberg News reported. Lyft was estimated at $ 15 billion.
Lyft said it has not yet determined how many shares will be offered or what the price range will look like. The IPO is expected to begin after SEC's review of the plan, according to Lyft's statement.