SAN FRANCISCO (AP) — Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report.

The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuation proposals from Goldman Sachs and Morgan Stanley. There is no guarantee Uber will fetch that valuation, or go public soon.

If it does, and at that price, the company would be worth more than Ford Motor Co., General Motors Co. and Fiat Chrysler Automobiles combined.

There are hurdles for Uber, past and present. In addition to a series of scandals including workplace sexual harassment, theft of intellectual property and the ouster of its co-founder, the company is facing increasing competition.

© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s