Uber Technologies Inc. has completed a new round of funding that values the five-year-old ride-hailing company at close to $51 billion, according to people familiar with the matter, equaling Facebook Inc.’s record for a private, venture-backed startup.
Uber raised close to $1 billion in the round, one of the people said, bringing the San Francisco company’s total funding to more than $5 billion. Uber had briefed investors on a plan to raise between $1.5 billion and $2 billion in the round, The Wall Street Journal reported in May.
Investors in the latest round include Microsoft Corp. and the investment arm of Indian media conglomerate Bennett Coleman & Co., another person familiar with the matter said, as Uber seeks to bolster its technology and expand outside the U.S.
An Uber spokeswoman said the company had filed a document in Delaware in May to authorize the latest funding round. “We aren’t commenting on additional speculation,” the spokeswoman said Friday.
Microsoft declined to comment. A Bennett Coleman executive didn’t immediately respond to a request for comment… see more
source: wsj.com
Tags: Facebook:, technology, Uber Value
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