Uber Is Set to Hit the Road for the Year’s Biggest IPO

Over the past decade, Uber Technologies Inc. proved itself to be one of the most prolific young fundraisers ever. It pulled together more than $20 billion from private investors. After burning through more than half that amount in just the last three years, Uber will soon see whether it can recreate that magic on the stock market.

The ride-hailing company entered the final stretch of the ultimate capital-raising exercise on Friday, when it disclosed details of an initial public offering expected to net the company and its backers another $8 billion or more. Executives and bankers plan to hit the road next week to promote the stock to public investors and then ring the bell on the New York Stock Exchange floor on May 10, when the shares start trading, according to a plan obtained by Bloomberg.