Uber is seeking a valuation of between $90 billion and $100 billion, influenced by the poor performance of smaller rival Lyft’s shares following its IPO late last month, the sources said. Investment bankers previously told Uber it could be worth as much as $120 billion. Lyft’s IPO priced at the top end of its upwardly revised range last month, assigning it a valuation of more than $24 billion in an offering that raised $2.34 billion. The shares ended trading on Tuesday at $67.44, well below their $72 IPO price. Uber last year had revenue of $11.3 billion, while gross bookings from rides were $50 billion.

Source: The Express Tribune April 10, 2019 12:22 UTC