Sunday, October 25, 2015

"Uber Said to Plan Another $1 Billion in Fund-Raising"

It almost makes you wonder: What is their burn rate up to?

From the New York Times:
Just three months after raising an enormous sum of money from investors, Uber is at it again.
Uber, a ride-hailing service, is planning to raise close to $1 billion in new venture capital from investors, according to people close to the matter. Investors are looking at a valuation of $60 billion to $70 billion.

If successful, the round of fund-raising would make Uber the world’s most valuable private start-up by far. A round this summer valued the company at more than $50 billion, a bit more than Facebook was valued at after its last big round of private capital fund-raising in 2011.

The furious pace at which Uber has been raising money is every bit as eye-popping as its soaring valuations. The latest round of financing will be the eighth that the company has sought over the last five years....MORE
HT: re/code