Uber CEO Dara Khosrowshahi (middle) speaks at this year’s Fortune Most Powerful Women Summit image : Photograph by Stuart Isett/Fortune Most Powerful Women

Bloomberg reports Goldman Sachs is also likely to play a role in the IPO which would mark one of the largest debuts ever and will likely be the largest listing to take place next year. Morgan Stanley was previously reported to have helped Uber draft its IPO prospectus.

General Motors President Dan Ammann (center) with Lyft co-founders John Zimmer (right) and Logan Green (left) image : General Motors

Rival Lyft’s IPO is being led by JPMorgan Chase with the help of Credit Suisse and Jefferies Financial Group. It’s said to be targeting a valuation between $18 billion – $30 billion for its debut. 

Big winners from the Uber IPO will include Softbank which purchased $8 billion of shares from investors and $1.25 billion worth of new shares in what marked as the largest equity transaction for a VC backed company early this year, its second largest backer Benchmark, Uber co-founders Travis Kalanick and Garrett Camp, The Saudi Government, Alphabet, Chris Sacca’s Lowercase Capital, hedge funds Tiger Global and Coatue Management, Fidelity, Menlo Ventures and First Round Capital.

Lowercase Capital’s Chris Sacca was an early investor in Uber. Other notable Lowercase bets include Twitter, Docker, Optimizely, Instagram, Twilio, Kickstarter and Lookout. image : Loic Le Meur on Flickr

Big winners from Lyft’s will include Rakuten, General Motors, Fidelity, Andreessen Horowitz, Alphabet’s CapitalG and its co-founders John Zimmer and Logan Green.