Based on the Wall Street Journal, the recent funding came from Bennett Coleman & Co. and Microsoft, while citing anonymous sources. Uber confirmed it filed over two months ago with Delaware’s Secretary of State the new funding but declined to comment on further speculation on the identity of its new investors, according to USA Today.
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Uber has now received more than $5bn in venture capital cash.
That’s the highest valuation ever for a venture-backed company, topping the $50 billion Facebook was valued at in 2011 when it completed its last round of fundraising before going public.
Uber’s latest financing vaults it past Chinese smartphone maker Xiaomi Corp.as the world’s most highly valued private startup.
Analysts say the company is now worth close to $51 billion, and they achieved that number in only five years.
Earlier this week, Uber’s India arm said the company had committed bn specifically toward expanding its operations in the subcontinent, where it faces stiff competition from rival cab-hailing service Ola.
It would also make Uber about as big as General Motors and larger than Netflix. Times Internet, which runs investments and oversees websites for Bennett Coleman, contributed to the new investment round after taking a stake in Uber earlier this year as part of a marketing deal.
Uber said in March that often Times Internet would likely spend money on “perfectly underneath” one billion rupees (usd16 mil) as…
Uber, which already has investors such as Google Inc and Alibaba Group Holding Ltd, including Microsoft now, operates in 57 countries, reports Reuters. The driver denies wrongdoing and is now on trial.
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And while neither company has announced plans for a partnership, Microsoft’s struggling mobile app ecosystem could benefit if Uber devotes more resources to making its service available on Windows devices.
