Uber set to become world’s most valuable privately-funded business – ever
Taxi booking app Uber is continuing to go from strength to strength with a new funding round set to net the business as much as $2bn, valuing the company at $50bn.
At this level Uber would become the most valuable privately-funded business in history, eclipsing even Facebook whose valuation peaked at $50bn, ahead of a stock market listing of its own.
Analysts predict Uber could well eclipse that benchmark however after exceeding already high expectations in previous funding rounds, according to CityAM.
The valuation represents a significant hike on the equivalent figure a year ago when the start-up was valued at ‘just’ $20bn.
Weighing against Uber however is the accumulation of $5bn of debt over the past five years as part of a global expansion drive.