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Ride hailing platform Uber is aiming for a valuation of close to $80-$90 billion in its IPO, just above what it got in its last funding round, Bloomberg reported citing sources close to the matter.
Initially, it was speculated that Uber could be valued at $120 billion during its initial public offering.
Recently, in its filing, the company showed strong growth but an ongoing struggle to overcome huge losses and repair its reputation.
Documents released on Thursday, 11 April, showed that Uber has been generating the robust revenue growth that entices investors, but also racked up nearly $8 billion in losses over its 10 years in existence.
(With inputs from Bloomberg.)
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