The timing for Uber's IPO means it will most likely hit public markets soon after Lyft completes its own public offering,which is expected to happen by the end of March,people familiar with the matter said. Uber declined to comment.
The neck-and-neck race extends a long-held rivalry between the two loss-making companies,which have battled each other for riders and drivers since their inception.
Uber's business is much larger and more diverse than Lyft's,and the company has moved relatively swiftly to go public given both firms filed confidential paperwork for an IPO at the same time in December.
Uber,a global logistics and transportation company most recently valued at $US76 billion ($122 billion) in the private market,is seeking a valuation as high as $US120 billion,although some analysts have pegged its value closer to $US100 billion based on selected financial figures it has disclosed.
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Lyft,a smaller firm which has ride-hailing and bike-renting in the United States and several Canadian cities,is seeking a valuation of $US20 billion to $US25 billion,up from its $US15 billion valuation as a private company.
The two companies are positioned to kick off a string of hotly anticipated public debuts from highly valued tech companies,energising the IPO market after a quiet start to the year.