A potential round of financing by Uber Technologies Inc. valuing it as high as $40 billion would make the mobile car-booking company more valuable than three- quarters of Standard & Poor’s 500 Index members.
Uber is raising at least $1 billion, and T. Rowe Price Group Inc. is in discussions to be a new investor, people with knowledge of the situation said. Existing investor Fidelity Investments is also set to participate in the funding.
A valuation of $35 billion to $40 billion would more than double Uber’s $17 billion value from a June financing, which was a record for a U.S. technology startup in a round of direct investment.
If Uber completes the financing, that could put it above:
- Tesla Motors Inc., with a market value of $31 billion
- Netflix Inc., at $21 billion
- Alcoa Inc., at $20 billion
- Charles Schwab Corp., wealth manager worth $37 billion
- Delta Air Lines Inc. and American Airlines Group Inc., with market caps of $37 billion and $32 billion, respectively
- Software maker Adobe Systems Inc., valued at $36 billion
- Kraft Foods Group Inc. at $35 billion, and General Mills Inc., $31 billion
- Tobacco companies Reynolds American Inc. at $35 billion, and Lorillard Inc., $23 billion
- Health insurers WellPoint Inc., worth $34 billion, Aetna Inc., $30 billion, and Cigna Corp., $27 billion
- Yum! Brands Inc., with a market cap of $33 billion, and Chipotle Mexican Grill Inc., $20 billion
- Viacom Inc., valued at $31 billion
- Retailers Macy’s Inc., worth $23 billion, and Gap Inc., $17 billion
- Marriott International Inc. and Wynn Resorts Ltd., hotel operators with market caps of $22 billion and $18 billion, respectively
–With assistance from Serena Saitto in New York.
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