Uber targets valuation above USD 100 billion for share offering due in 2019

The sources told AFP the global ridesharing giant is considering speeding up its plans for an initial public offering (IPO) to the first half of 2019.

Uber is eyeing a valuation above USD 100 billion for its much-anticipated share offering due in 2019, which would be the biggest-ever in the tech sector, sources familiar with the plan said Tuesday.

The sources told AFP the global ridesharing giant is considering speeding up its plans for an initial public offering (IPO) to the first half of 2019, rather than the second half of the year.

Uber, which operates in over 60 countries, is already the largest of the venture-backed "unicorns" valued at more than USD 1 billion, which until recently was considered rare without tapping stock markets.

Its most recent investment -- a USD 500 million injections from Japanese auto giant Toyota -- was made at a reported valuation of USD 72 billion.