Uber Looking For Another $1.5 Billion In Funding At A $50 Billion Valuation…Wait…What?

On-demand transportation an logistics company Uber could raise another $1.5 billion to $2 billion in funding, adding to an already massive war chest as the company expands into new markets and new verticals around the world.

As reported by the Wall Street Journal and the New York Times, the latest fundraising effort could value the company above $50 billion, which would put it in the same league as Facebook in its last private funding round before going public. The new valuation would also once again make it the most highly valued private company in the world by topping consumer electronics manufacturer Xiaomi, which was valued at $45 billion in its most recent round of funding.

Via TechCrunch