Uber now seeking $12B valuation, report says
David Paul Morris
Uber Technologies, led by CEO Travis Kalanick, is reportedly on the hunt for a $500 million investment that would value the ride-sharing startup at $12 billion.
- John Sailors[1]
- Morning Edition Editor- San Francisco Business Times
- This email address is being protected from spambots. You need JavaScript enabled to view it.[2]
Uber Technologies[3], the driver for hire company, is reported to be seeking $500 million in an investment that would value the firm at more than $12 billion — just one week after the startup said it would chase a $10 billion valuation.
The company is talking with possible investors including hedge funds, mutual fund BlackRock[4] Inc., and private-equity firms General Atlantic[5] and Technology Crossover Ventures[6], the Wall Street Journal reported[7]. It's looking to complete the deal within the next few weeks.
Last week, Uber was reportedly seeking a funding round that would value it above $10 billion[8], where the startup would join a handful of other venture-backed Bay Area companies valued in that range.
Uber's service connects people needing a ride with drivers in 115 cities around the world and employs 900 people.
Uber raised $258 million last August from Benchmark, TPG Capital[9] and Google Ventures[10], valuing it at about $3.5 billion. It has collected a total of $307.5 million since it was founded in 2009 with other backers including Menlo Ventures[11], First Round Capital[12] and Goldman Sachs[13].
(Edited by: Baumann, )
References
- ^ John Sailors (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Uber Technologies (www.bizjournals.com)
- ^ BlackRock (www.bizjournals.com)
- ^ General Atlantic (www.bizjournals.com)
- ^ Technology Crossover Ventures (www.bizjournals.com)
- ^ the Wall Street Journal reported (online.wsj.com)
- ^ that would value it above $10 billion (www.bizjournals.com)
- ^ TPG Capital (www.bizjournals.com)
- ^ Google Ventures (www.bizjournals.com)
- ^ Menlo Ventures (www.bizjournals.com)
- ^ First Round Capital (www.bizjournals.com)
- ^ Goldman Sachs (www.bizjournals.com)