Uber eyes further $1bn in funding to aid expansion
Taxi app Uber is in talks with a number of investors about raising $1bn in new capital, the Financial Times has reported.
It comes just months after it completed a round of funding which raised $1.2bn.
The company has its eye on expanding into Asia, Latin America and Africa as well as developing its transport and logistics services which is has been experimenting with in New York.
The FT states that if completed “the fundraising would give five-year-old Uber a $2bn war-chest.”
When Uber raised $1.2bn in June this year the company was valued at $17bn. If the second round of funding should go ahead, it could see Uber valued at $25bn.
Earlier this week, Uber's chief executive Travis Kalanick admitted that he lobbied rival taxi app Lyft's investors during its May fundraiser.
"We knew that Lyft was going to raise a ton of money and we were going [to their investors], ‘Just so you know, we’re going to be fundraising after this, so before you decide whether you want to invest in them, just make sure you know that we are going to be fund-raising immediately after.’”
Lyft managed to raise just $250m.