Uber is preparing to raise billions more in funding

Uber raised more than a billion dollars in a single funding round last year, more than most startups will ever raise in their entire lifetime, but the company still isn’t satisfied. Speaking to high-level investors, Uber announced that it plans to raise somewhere between $1.5 billion and $2 billion in new funding, which would put the company’s valuation at somewhere north of $50 billion. 

Uber Technologies Inc., the world’s most highly capitalized startup, plans to raise another large round of funding. The San Francisco-based ride-sharing company briefed investors on its plans to raise between $1.5 billion and $2 billion in new funding, said people familiar with the matter. It expects the funding to value the company at $50 billion or higher, the people said, although they said Uber’s plans could change. At that level, Uber could become the most valuable venture-backed startup in history. Only Facebook Inc. attained a $50 billion valuation before going public. Goldman Sachs Group arranged a private offering of shares of the social network at that valuation in 2011. Uber’s valuation could rise as it meets with investors, the people said. A May 2014 funding round began with discussions of a roughly $10 billion valuation and closed at an $18 billion valuation. A round in December 2014 began at around $30 billion and closed at $41 billion.