US: Latest Uber funding round values the company at around $51 billion image

Uber Technologies Inc, the well-known California-based car sharing service provider, has closed yet another round of funding, with the Wall Street Journal reporting the value of the smartphone ride-hailing form has reached almost $51 billion.

During the round Uber managed to gather from interested investors almost one billion dollars, taking the total funding raised so far to at least five billion, said the Journal in the report released Friday, with the newspaper citing persons that had knowledge of the matter but declined to reveal their identity because the proceeds had not been public. During the latest round of investment, Uber can call among its investors companies such as Microsoft Corp and the Indian media conglomerate Bennett Coleman & Co’s Times Internet, though Bloomberg reported from another source close to the matter the former had not yet made a final decision on the Uber investment. “We filed to authorize this new funding more than two months ago,” commented an Uber spokesperson for Reuters. “We aren’t commenting on additional speculation,” she added.

Uber announced back in March that under a “strategic partnership” the Indian Times Internet conglomerate would land an investment of “well under” one billion rupees ($16 million) – Bennett Coleman & Co’s digital unit Times Internet among others runs India’s biggest English language daily, “Times of India”. Uber last week announced it would spend one billion dollars in India alone over the coming nine months in a bid to expand its services in the firm’s largest market outside its United States home region.

Via Reuters