Uber Reportedly Valued at $1 Billion

uber, social apps, mobile apps, taxi apps, ride sharingUber is in the midst of a fundraising round that values the company at $1 billion, according to Reuters’ report.

The news follows remarks by Bill Gurley, an Uber investor through Benchmark Capital, at the Disrupt NY conference, describing Uber as “probably the fastest growing company that we’ve ever had.” Gurley specifically noted that Uber was growing faster than eBay did in its early days.

A billion-dollar valuation would put Uber, which launched in 2010, in a small class of elite start-ups. Spotify, Pinterest and Airbnb are currently valued in the low billions.

A successful round will be the test of the aggressive valuation.

Despite facing regulatory hurdles, Uber now offers its e-hail taxi service in Boston, San Francisco and New York.

Update: CEO Travis Kalanick denied on Twitter that Uber was actively fundraising. It may be that it’s considering another round, or that investors are asking it to open up another round. Or it could be that Reuters just blew it.

 

Related Stories
Mediabistro Course

Social Media 201

Social Media 201Starting October 13Social Media 201 picks up where Social Media 101 left off, to provide you with hands-on instruction for gaining likes, followers, retweets, favorites, pins, and engagement. Social media experts will teach you how to make social media marketing work for your bottom line and achieving your business goals. Register now!