Uber plans to kick off IPO in April

Ride-hailing company Uber is planning to kick off its initial public offering in April, putting it close on the heels of its smaller rival Lyft, people familiar with the matter said on Thursday.

Next month, Uber will issue its required public disclosure, known as an S-1, and launch its investor roadshow, the people said.

The IPO is expected to be one of the biggest technology debuts. that proposals for Uber‘s IPO valued the company at $120 billion.

The timing for Uber‘s IPO means it will most likely be hitting the public markets soon after Lyft completes its own public offering, which is expected to happen by the end of March, people familiar with the matter said.

Uber and Lyft join a number of tech companies expected to go public this year, including Slack, Pinterest and Palantir.

Uber declined to comment.

–CNBC contributed to this article.