Uber could be valued at a massive $120 billion if it goes public next year.
That’s according to The Wall Street Journal, which on Tuesday reported details of proposals it said Uber received from Goldman Sachs and Morgan Stanley ahead of its proposed initial public offering in early 2019.
The valuations are 66% higher than Uber’s most recent valuation, which pegged the company at $72 billion after Toyota invested $500 million into the ride-hailing firm.
Uber received the proposals last month, The Journal said, citing people familiar with the matter. The documents, it said, typically advise on how to position shares to potential investors before banks underwrite IPOs.
Uber CEO Dara Khosrowshahi said last month that the company was on course to go public next year. “The growth rates for a company our size are unrivaled,” he told Reuters in September. “Right now, we’re on track for an IPO next year, market conditions permitting.”
The float is hotly anticipated on Wall Street, according to The Journal, and it would be one of the biggest tech IPOs in history. Facebook’s IPO valuation was $104.2 billion in 2012, while Google went public in 2004 at a valuation of $23 billion. Snap was valued at $23.8 billion when it went public last year.
Uber declined to comment when contacted by Business Insider.