Uber's valuation has been lowered, and it may launch a roadshow

That valuation is significantly lower than the $120 billion that investment banks told Uber it could get last year, but it is closer to the $76 billion valuation the company received when it raised private funds last year.

According to Reuters, the adjustment in valuation expectations reflects the impact of the poor performance of Lyft, a smaller competitor than Uber, after its IPO last month. As investors are skeptical about Lyft's path to profitability, its stock price has fallen 22% from its IPO price at its closing price on Thursday in the United States.

Although the valuation is lower than originally expected, Uber's IPO will still be the largest since Chinese e-commerce giant Alibaba in 2014.

Uber will begin its roadshow next week to promote its IPO to investors, with one of the highlights being that Uber is the largest ride-hailing company in many of the markets it operates in. Analysts also believe that building economies of scale is critical to Uber's business model moving toward profitability.