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Uber in Talks to Raise More Funds at $10 Billion Plus Valuation: Report

Uber in Talks to Raise More Funds at $10 Billion-Plus Valuation: Report

By Reuters | Updated: 17 May 2014 17:23 IST

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Uber Technologies Inc, which arranges car rides on demand, is in talks to secure a new round of financing from private equity investors that may value the company at more than $10 billion, Bloomberg cited people with knowledge of the situation as saying.

The size and value of the funding may change, Bloomberg said on Thursday, citing one of the people.

Uber's last round of financing pegged the fast-growing startup's value at $3.5 billion. The company pairs people looking for rides with drivers in major cities and is part of a crop of startups such as AirBnB now profiting off an expanding "sharing economy."

(Also see: Uber battling local lookalikes in Asia taxi-app wars)

Uber, which is backed by investors including Benchmark Capital, TPG Capital and Google Ventures, was not immediately available for comment.

© Thomson Reuters 2014

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