Date
24 January 2017
Uber's latest financing round will value the company at more than US$62 billion, reports say. Photo: Bloomberg
Uber's latest financing round will value the company at more than US$62 billion, reports say. Photo: Bloomberg

Uber said to seek new funding at US$62.5 bln valuation

Uber Technologies is seeking to raise up to US$2.1 billion in a financing round that will value the car-booking company at US$62.5 billion, Bloomberg News reported, citing people familiar with the matter.

The company has filed paperwork in Delaware detailing the fundraising plans, the sources were quoted as saying.

The financing initiative comes as Uber is pursuing aggressive expansion in Asia, particularly in China, where the company expects to spend US$1 billion.

As part of the current financing round, Uber has closed investments from Tiger Global Management and T. Rowe Price, according to the report.

The company is also said to be seeking strategic investors with shared business interests.

Uber, which launched its service more than five years ago, had already raised more than US$10 billion before the current round.

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