Uber Valued At Around $51 billion

Uber Technologies Inc seems to have closed its new round of funding, which values the online taxi-hailing company at about $51 billion. The company has been able to raise about $1 billion and this brings their total funding to more than $5 billion. This has been reported by Wall Street Journal, citing sources in the know.

Uber_logotype.svgCiting a source, Bloomberg suggests that Microsoft has considered this investment and Indian media conglomerate Bennett Coleman’s Times Internet is also investing. Uber spokeswoman Kristin Carvell said that they had filed for authorizing such a funding two months back but would not like to comment on any kind of speculation.

In March 2015, Uber had said that Times Internet could invest “well under” $16 million as a part of their strategic partnership. Times Internet is the digital arm of the Bennett Coleman & Co.

A day before news of the funding, Uber had announced that it would invest about $1 billion in India and after a period of about 9 months, it would further expand it’s operations and services to make it the biggest market here, apart from the US. Uber currently operates in about 57 countries.

Nishtha Shukla Anand

The founder and CEO, Nishtha has extensive experience of more than 15 years of media experience. She worked with leading media houses such as India Today, Pioneer and Reuters before setting out to do something on her own in 2006 with Pen Pundit Media Services.