The Presidential Daily Brief


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    Report: Uber IPO Could Reach $120 Billion

    Ahead of the ride-hailing firm’s expected initial public offering next year, Wall Street banks have reportedly valued Uber at nearly double its most recent valuation — and more than Ford, General Motors and Fiat Chrysler combined. The proposals reflect the company’s growing momentum as it competes with rival Lyft, also expected to top its current $15.1 billion valuation ahead of a 2019 IPO. Another report suggested Uber is considering minority stake investments to help fund its self-driving car program, which it could eventually spin off into a separate entity.

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