Uber Is Raising New Round of Funding at a $3.5 Billion Valuation
Unless Uber is going to be focusing on its logistics prowess rather than getting people in cars, this valuation fails to take into account the real-world revenues of the global taxi and limo industry.
Excerpt from AllThingsD
Uber, the ride-logistics startup, could be valued at up to $3.5 billion in a new funding round led by TPG Capital, said multiple sources close to the discussions, which are ongoing but advanced. We had first reported that Uber was seeking the round in June.
In the past few days, we’ve heard a continuous stream of rumors and reports about the funding auction for the high-profile startup, with uber-high valuations floated. That seems to be the case for the deal as it is now conceived, as the amount that Uber is valued at has risen over the last month.