Uber Aims To Raise Another $2bn At A $50bn+ Valuation

If true, Uber could become the largest venture-backed startup in the world, joining Facebook which is the only company that attained a $50 billion valuation before going public. Looking at previous rounds, Uber’s valuation could rise further – In May 2014, a round which began valuing the company at roughly $10bn closed at $18bn, and in December 2014 a round which began at $30bn ended up at $41 billion.

Taxi hailing company Uber is one among the most valuable startups in the world today and is planning to raise another large round of funding that might make it the largest ever.
uber_logo
According to WSJ, the company briefed investors on plans to raise between $1.5bn and $2bn in a new funding round, at a valuation of $50 billion or higher.
Just yesterday news of Uber making a $3bn bid for Nokia’s Here mapping division broke cover, who’s expertise in automotive mapping can’t be matched even by Google.
If true, the latest funding round could be in line with making cash available for the purchase of Here, which would enhance the company’s technological prowess and further push up its valuation.
Uber could become the largest venture-backed startup in the world, joining Facebook which is the only company that attained a $50 billion valuation before going public.
Uber’s valuation could rise further, especially if we look at what the company has been able to achieve in previous funding rounds.
In May 2014, a round which began valuing the company at roughly $10bn closed at $18bn, and in December 2014 a round which began at $30bn ended up at $41 billion.
The funds, undoubtedly will be used to fuel Uber’s expansion into new global markets while growing its presence in markets it’s already present in.

Leave a Reply

Sign Up for #BigDaily Newsletter

Daily.