Uber Takes In Another $1.2B, Valuation Surges to $40B
December 05, 2014
Ridesharing startup (can we still call it a startup?) Uber has raised an additional $1.2 billion in funding at a reported valuation of $40 billion, making the company worth more than Airbnb ($10.8B), Flipkart ($10.5B), Square ($6B) and Pinterest ($5.1B) combined. So, considering the fact that Uber just raised about $1.2 billion in June, why would it need so much capital so soon? For one, the company is growing at an incredible rate. In just the past year, it has expanded operations from 60 cities in 21 countries to 250+ cities in 50 countries. Secondly, Uber plans to continue its aggressive expansion, using the new funds particularly to make substantial investments in the Asia Pacific region. Interestingly, the new round may soon even expand; in a blog post announcing the new fundraise, Uber CEO Travis Kalanick notes that there is "additional capacity remaining for strategic investments."
Uber seems to be dominating the ridesharing industry, but its competitors are quickly growing as well. Here are some of the other players in the space that have received significant VC investments in 2014: