Reports suggest that valuations for the ride-hailing app could be as high as $120bn (£91bn). Details at this stage are scant, but it is expected to feature among the biggest IPOs of 2019.

Uber’s growth has been exponential in recent years and it has established itself as a disruptive business model in the taxi industry, with a presence in more than 60 countries.

Nevertheless, it hasn’t all been plain sailing: the company has come under criticism over the years. For example, it faced sexual harassment claims by female employees in 2017 and came under fire after classifying its drivers as self-employed contractors.

Back in 2017, Transport for London banned Uber in London – a decision that was overturned in June of last year.

Uber’s decision to IPO follows that of smaller ride-sharing rival Lyft, which is due to list on the Nasdaq this year.