FILE PHOTO: Uber’s logo is displayed on a mobile phone, September 14, 2018. REUTERS/Hannah Mckay
(Reuters) – Ride-hailing company Uber Technologies Inc is planning to kick off its initial public offering in April, putting it close on the heels of its smaller rival Lyft Inc, people familiar with the matter said on Thursday.
Next month, Uber will issue its required public disclosure, known as an S-1, and launch its investor roadshow, the people said.
The timing for Uber’s IPO means it will most likely be hitting the public markets soon after Lyft completes its own public offering, which is expected to happen by the end of March, people familiar with the matter said.
Uber declined to comment.
Uber and Lyft both filed confidentially for an IPO in December.
Uber, a global logistics and transportation company most recently valued at $76 billion in the private market, is seeking a valuation as high as $120 billion.
Lyft, a smaller firm which has ride-hailing and bike-sharing in North America, is seeking a valuation of $20 billion to $25 billion, up from its $15 billion valuation as a private company.
The two companies are positioned to kick off a string of hotly anticipated public debuts from highly valued tech companies, energizing the IPO market after a quiet start to the year.
Reporting by Carl O’Donnell in New York and Heather Somerville in San Francisco; additional reporting by Greg Roumeliotis in New York; Editing by Meredith Mazzilli