Uber has reportedly raised $1.6 billion in convertible debt from Goldman Sachs, which would be the company's third raise of over $1 billion in the past eight months. In June, Uber raised $1.2 billion in an equity round that valued it at $18 billion. That valuation exploded to $40 billion with another $1.2 billion investment in December.
Uber is still looking to expand internationally, even as it has hit road bumps recently, with several cities and countries banning parts of its service over safety concerns. The bond placed with Goldman is rumored to be convertible into equity at a 20% to 30% discount of Uber's valuation at the time of an IPO. Operating in over 270 cities across 54 countries, Uber has raised more than $4 billion in debt and equity with the latest financing.