Uber Technologies Inc is reportedly close to finalizing a fresh round of financing which would value the company at up to $40 billion.
A Bloomberg report cited unnamed sources stating Uber’s market value would be in the region of $35 billion to $40 billion once the funding round is completed.
It is raising another $1 billion from potential investors such as T. Rowe Price Group Inc. and existing shareholder Fidelity Investments is also reportedly keen to up its stake in the ridesharing service.
Uber is raising more money to fund further international expansion.
It has so far launched its car-booking app in 220 cities worldwide.
A string of controversies, including lack of oversight on customer privacy and the unsavory ‘Ubergate’ media smear campaign, have failed to dampen the enthusiasm of corporate investors.
At $35 billion to $40 billion, Uber’s value would more than double from its last financing round in June, and would put its stock value in the same bracket as major companies such as Delta Air Lines.
