Uber has reportedly selected Morgan Stanley to lead its IPO

• Morgan Stanley is leading Uber's massive public offering, Bloomberg reported Tuesday.

• Goldman Sachs is also expected to provide assistance, the news site said.

• Uber could be one of the largest IPO's in recent memory, with a valuation as high as $US120 billion.

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Uber has selected Morgan Stanley to lead its initial public offering which it filed initial documents for last week, Bloomberg reported Tuesday.

Goldman Sachs is also providing services related to the offering, sources familiar with the matter told Bloomberg's Eric Newcomer, adding that Uber will likely add more firms to its prospectus as it prepares to go public.

Uber's IPO could be one of the largest in years, with its total valuation expected to be as high as $US120 billion - larger than Facebook's $US104 billion offering in 2012 and more than the current market value of the US' 'big three' automakers combined.

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Last week, both Uber and its smaller ride-hailing competitor filed confidential draft registration statements with the Securities and Exchange Commission, the US' top stock market regulator, to begin the IPO process.

Lyft has secured the assistance of Credit Suisse for its offering, Business Insider has learned, with Bloomberg reporting that JPMorgan and Jefferies are also on board. Most recently valued at $US15.1 billion in a private fundraising round, Lyft could reach more than $US20 billion, some analysts have said.

While Lyft was public in announcing its filing, Uber's was first reported by the Wall Street Journal and not publicly disclosed. It's not clear which company's full prospectus filing will come first or which may be the first to list on a stock exchange.

Sources tell Bloomberg Lyft's offering is expected as soon as this Spring, while Uber CEO Dara Khosrowshahi said in September the firm was eyeing the second half of 2019.

Morgan Stanley has made a name for itself on major tech IPO's of late. The bank has headed up offerings by speaker-maker Sonos, Qualtrics, and Moderna, among others.

An Uber spokesperson declined to comment; Morgan Stanley, and Goldman Sachs did not respond to requests for comment.