Uber has accrued roughly $2.5 billion in losses this year, not including the sale of its unprofitable businesses in southeast Asia and Russia. Last year, Uber lost about $4.5 billion. In preparation for the company's planned IPO, Chief Executive Dara Khosrowshahi has been working to shore up Uber's finances, including closing or selling unprofitable units and paring expenses. Bankers hoping to help Uber with its plan to go public have valued the company on the public markets at as much as $120 billion, more than double its valuation from a recent funding round, The Wall Street Journal reported in October. That valuation is more than General Motors Co .