Uber Reportedly Looks To Raise About $10 Bln In IPO

(RTTNews) - Uber Technologies is looking to offer around $10 billion worth of stock in its initial public offering, with most of the shares being sold directly by the company, according to several media reports.

The ride-hailing company is seeking a valuation of up to $100 billion after the initial public offering, the reports said, which would make it the biggest IPO this year.

In comparison, rival Lyft Inc. (LYFT) which went public on March 29, raised $2.2 billion in its IPO. With Lyft's stock closing Tuesday at $67.44, or 6.3% below its $72 IPO price.

Uber is expected to make its registration public as early as Thursday.