Uber's US$120 billion valuation

Uber could be valued as much as US$120 billion (S$165 billion) when it goes public next year, according to recent proposals made by US banks and reported by the Wall Street Journal.

SAN FRANCISCO (REUTERS) - Uber could be valued as much as US$120 billion (S$165 billion) when it goes public next year, according to recent proposals made by US banks and reported by the Wall Street Journal.

Such a valuation would set the stage for one of the biggest listings ever. Uber declined to comment.

"Ride sharing, antonymous are kind of the future of mobility. These are things that have the potential and will change our lives, on par with, you know, the creation of the Internet, the creation of trains automobiles, and everything.

These are things that are going to fundamentally impact human lives. So, no, it's not really a surprise that we're seeing such massive numbers, given that this is something that so many people use across the world," said Kelley Blue Book's Akshay Anand.

Uber and its smaller rival Lyft are expected to go public in 2019. Both companies have taken hits to their bottom lines to attract drivers and enter new markets. But they have also made strides in narrowing their losses.