Uber Raising Funding at Massive $62.5 Billion Valuation

Uber is seeking to raise an additional $2.1 billion in financing that would value the firm at $62.5 billion, according to a new report in Bloomberg. The funding would provide the fast-growing, ride-hailing app with capital to pursue global expansion as well as enter new lines of business. It has tested parcel and food delivery in some cities and has invested in autonomous vehicle technology.

Bloomberg‘s report, based on anonymous sources, suggests Uber is also seeking strategic investments from firms it might align with in some way. The company faces growing competition, especially from emerging markets around the world.

See Uber's Stunning New Sci-Fi Headquarters

Uber’s new headquarters is expected to open in late 2017 or early 2018 in San Francisco’s Mission Bay.

Uber

There are two buildings featured in the design: one is a six-story building at 1515 Third St., while the other is an 11-story building at 1455 Third St.

Uber

The campus was designed by Shop Architects PC, a firm based in New York City.

Uber

It measures 423,000 square feet, which reportedly triples Uber’s footprint in the city.

Uber

This will be the eighth move for Uber. Salesforce previously occupied the space.

Uber

The move to the new headquarters comes as the company nabbed a $50 billion valuation earlier this year.

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If the report is accurate, Uber’s business is continuing to grow at a rapid clip. The company, already the fastest growing startup in history, reportedly has a gross revenue run rate of more than $10 billion globally. Gross revenue in the U.S. grew 200% this year, according to the sources.

[Bloomberg]

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