Uber Is Now a $50 Billion (Valued) Company

Throw some more money on the Uber stacks. The on-demand car company has just raised another cool $1 billion, according to sources quoted in the Wall Street Journal. The $1 billion brings the total fun...
Uber Is Now a $50 Billion (Valued) Company
Written by Josh Wolford
  • Throw some more money on the Uber stacks. The on-demand car company has just raised another cool $1 billion, according to sources quoted in the Wall Street Journal.

    The $1 billion brings the total funding to $5. The company is now valued at just shy of $51 billion.

    This round was brought to you by Microsoft and Indian media company Bennett Coleman & Co.

    The WSJ has this interesting tidbit, showing just how fast Uber reached its $50 billion valuation:

    Uber’s valuation has now reached the high-water mark set by Facebook in 2011, when Goldman Sachs offered wealthy clients outside the U.S. shares of the social network that implied a $50 billion valuation, not including the money raised.

     

    At the time, Facebook was nearly seven years old. Uber just turned five.

    In other Uber and a billion dollars news, the company announced intentions to pump $1 billion into an expansion in India.

    “We are extremely bullish on the Indian market and see tremendous potential here,” Amit Jain, president of Uber India said in a statement on Friday. “Uber has grown exponentially in India.”

    China too.

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