It would be highest valuation for US tech company since Facebook floated in 2012

Uber is set to unveil the terms of its hotly anticipated stock market flotation, with the ride-hailing service targeting a valuation of $80bn to $90bn – substantially less than bankers had suggested the business could be worth but still the highest valuation for a US tech company since Facebook floated in 2012.

The 10-year old company, which recently warned it may never “achieve profitability”, is expected to release documents on Friday outlining details of its initial public offering, including the number of shares to be sold and the proposed price range.

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