Uber targets start-up value of up to $ 90 billion | Technology

Uber is expected to unveil the terms of its much-anticipated stock market introduction, with a stimulus package targeting $ 80 billion to $ 90 billion worth – far less than bankers had suggested, but still the highest valuation -United. Technology company since Facebook floated in 2012.

The 10-year-old company, which had recently announced that it could never "achieve profitability," is expected to release Friday documents detailing the details of its initial public offering, including the number of shares for sale and the price range proposed.

The market valuation that Uber hopes to achieve, which could yield a product of 8 to 10 billion dollars, is almost a third less than the 120 billion bankers that last year, the bankers said they could get. Uber was valued at $ 76 billion at a private fundraiser in August.

Uber's more subdued expectations follow the disappointing performance of its small rival, Lyft, which fell by a fifth after its IPO last month.

If Uber reaches a proposed price range of $ 44 to $ 50 per share, reported for the first time by Bloomberg, it will remain at the forefront of IPOs since the Chinese online trading giant, Alibaba, in 2014. It is will rank second among the largest IPOs American tech company after Facebook, which was listed on the stock market with a valuation of $ 104 billion in 2012.

Uber is also expected to sell PayPal about $ 500 million worth of shares at the IPO price, according to Refinitiv IFR.

Uber and PayPal, which process payments for Uber in the United States and several other countries, are also expected to announce an expanded trade deal.

Uber will begin an investor presentation tour on Monday to engage investors from both sides of the Atlantic, before making its New York Stock Exchange debut in early May.

In a document filed with the US Securities and Exchange Commission earlier this month, Uber revealed that he was still spending a lot of cash and accumulating heavy losses while he was looking for market shares on profitability.

The company has recorded losses of US $ 12 billion since 2014. Revenues grew 42% last year to US $ 11.3 billion, while operating losses decreased to $ 3.03 billion. US dollars. Cash consumption was $ 2.1 billion last year.