Uber Aims to Raise $2 Billion; Expected Valuation to Touch $50 Billion
NDTV Auto Team
1 min read
May 11, 2015, 07:58 PM
According to a report published in The Wall Street Journal, Uber is planning to raise $1.5 billion - $2 billion in the next round of funding. If the ride-sharing company manages to raise that amount, it will become worth about $50 billion, which could give it the status of the most valuable venture-backed startup. The company completed 2 funding rounds in December and February, via which it collected $1.2billion and $2.8 billion, respectively.
This means Uber's expansion plans are only set to be rapidly intensified, while also allowing it use the capital to help deal with legal matters on behalf of its drivers in various markets in which it operates.
As far as its expansion plans go, UberEATS, a food delivery service, UberESSENTIALS, an everyday items delivery service, and UberRUSH, a courier service, are expected to expand to a greater number of markets. Reports claim the company is also planning to launch a delivery service for merchants.
Other than that, Uber has been eyeing HERE - Nokia's digital mapping service - and is also investing in a robotics facility that may be used for the development of driverless cars.
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