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Uber reportedly in funding talks that'll value it at $10B

The 4-year-old on-demand car service could be joining the big-players club with a possible new round of funding.


The on-demand car service Uber could soon be uber-rich. The company is reportedly in talks to raise enough funding to value it at more than $10 billion, according to Bloomberg. This would be big bucks for the relatively nascent startup.

Sources close to the matter told Bloomberg that Uber is allegedly talking to private equity investors to raise less than $1 billion. The size and value of the possible funding could change, however.

A $10 billion valuation would be triple the current value of the company. Last August, Uber racked up roughly $350 million in funding, which gave it a $3.5 billion valuation. If the company joins the billionaires club, it would be on par with other popular startups like Airbnb and Dropbox, according to Bloomberg.

It appears one of Uber's recent hires could be leading the charge for this reported new round of funding. According to Bloomberg, Uber hired Cameron Poetzscher from Goldman Sachs Group in March to be in charge of its corporate development.

Despite earlier roadblocks from government regulators and taxi commissions, Uber appears to now be on a roll. It has expanded to 115 cities worldwide and has 900 employees. The company has snagged deals with PayPal and the NFL, and often gets celebrities, athletes, and other notables to play rider No. 1 when it launches in a new city.

CNET contacted Uber for comment on the possible funding. We'll update the story when we get more information.