Uber Could Soon Be Valued at $40 Billion

Josh WolfordBusiness

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Uber could be valued at a staggering $35 to $40 billion after a new round of funding, according to a report.

"T. Rowe Price Group Inc. is in discussions to be a new investor, said the people, who asked not to be identified because the details are private. Existing investor Fidelity Investments is also set to participate in the funding, they said. Uber is raising at least $1 billion, the people said," according to Bloomberg.

For some perspective, that would put Uber on par with companies like Delta Airlines and Kraft. In the transportation realm, Uber would outpace rental service Hertz by a factor of four.

The last time Uber saw a pretty shocking valuation was this past summer, when a new round of funding valued the company at around $17 billion.

This massive valuation would come at a time when Uber is fighting off some pretty bad press. Most recently, an Uber exec suggested that the company could, in theory dig up dirt on any journalists who painted the company with a negative light. Those comments were walked back faster than you can say 'take a Lyft'.

A few days later, it was revealed that another Uber exec had violated a journalist's privacy by looking up ride records without cause.

One foot-in-mouth investor later and we saw rival Lyft have its best week ever.

All of this, of course, comes on the heels of various troubling reports of violent incidents between drivers and passengers.

Image via Uber, Facebook

Josh Wolford
Josh Wolford is a writer for WebProNews. He likes beer, Japanese food, and movies that make him feel weird afterward. Mostly beer. Follow him on Twitter: @joshgwolf Instagram: @joshgwolf Google+: Joshua Wolford StumbleUpon: joshgwolf