Uber Technologies Inc. recently received proposals from Wall Street banks valuing the ride-hailing company at as much as $120 billion in an initial public offering that could take place early next year, according to people familiar with the matter.
That eye-popping figure is nearly double Uber’s valuation in a fundraising round just two months ago and more than General Motors Co. , Ford Motor Co. and Fiat Chrysler Automobiles NV are worth combined.
Goldman Sachs Group Inc. and Morgan Stanley MS 0.09% last month delivered the valuation proposals to Uber, the people said. These documents, which typically advise on how to position