Home Business NewsTech News It raised $1.2bn a month ago. Now Uber’s raised ANOTHER $1.6bn

It raised $1.2bn a month ago. Now Uber’s raised ANOTHER $1.6bn

by LLB Reporter
22nd Jan 15 11:59 am

Gosh, some people just can’t get enough, can they?


It was only in December that Uber completed a funding round for $1.2bn, valuing the car-booking app at some $40bn.

Now Bloomberg is reporting “people with knowledge of the matter” saying that Uber Technologies Inc has just raised another $1.6bn in convertible debt from Goldman Sachs.

And on top of that, Uber is still reportedly trying to raise a further $600m from hedge funds, according to sources.

Neither Uber nor Goldman Sachs are commenting, but Bloomberg says it’s heard that the convertible debt and equity (as well as, of course, all that other cash) is to fuel Uber’s rapacious appetite for international expansion.

Your mini need-to-know on Uber

  1. Uber is now present in 54 countries, spanning North, Central and South America; Europe; the Middle East; Asia and Asia Pacific.
  2. Uber investors are, as you might expect, top-notch. They include Goldman Sachs, Blackrock, Amazon founder Jeff Bezos, Google Ventures and Baidu (China’s biggest search engine).
  3. Uber was founded in 2009 in San Francisco by CEO Travis Kalaknick and chairman Garrett Camp.

But Uber is not without its controversies, as our feature below explains…

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