Uber Refueling Its Warchest Yet Again, At A Valuation Of Up To $70BN | TechCrunch

Uber Refueling Its Warchest Yet Again, At A Valuation Of Up To $70BN | TechCrunch

Search Search Posted Another month, another billion for Uber… The ride-hailing business is reportedly raising yet again — planning to raise close to $1 billion in new investment according to the NYT citing "people close to the matter", with investors looking at a valuation of between $60 billion and $70 billion for the six-year-old startup. If the NYT's report is on the money, it comes mere months after the WSJ reported Uber had raised almost $1 billion in new financing, with a valuation then, in July, of more than $50 billion. We've reached out to Uber for comment and will update this story with any response. Update: An Uber spokesman declined to comment. Uber's war-chest runs to more than $8 billion in confirmed financing rounds  at this stage. Why does a ride-hailing business that likes to claim it's not a transportation company need such a massive money mountain behind it?

Read full article from Uber Refueling Its Warchest Yet Again, At A Valuation Of Up To $70BN | TechCrunch