Uber's latest funding round values ridesharing company at $40 billion

Reuters News
Posted: Dec 04, 2014 2:25 PM

By Abhirup Roy

(Reuters) - Uber said it raised $1.2 billion in its latest funding round and had additional capacity remaining for strategic investments, valuing the U.S. taxi service firm at $40 billion.

The funding would allow Uber to invest, particularly in the Asia Pacific region, Chief Executive Travis Kalanick said in a blog post on Thursday.

Kalanick did not say who made the investment in the ridesharing company, which counts Goldman Sachs and Google Ventures among its existing investors.

Uber filed to authorize up to $1.8 billion of new Series E preferred stock, Fortune reported. (http://for.tn/1vRBCBD)

The new round of funding valued the company at $40 billion, Uber spokeswoman Nairi Hourdajian told Reuters in an email. She declined to name the latest investors.

CEO Kalanick said Uber would generate over 1 million jobs in 2015.

Uber was valued at $18.2 billion in June when it raised $1.2 billion from mutual funds and investors, including Fidelity Investments, Wellington Management and BlackRock.

(Editing by Savio D'Souza)