Uber's valuation could reach $ 17 billion

According to foreign media reports, anonymous insider revealed that Fidelity Investments (Fidelity Investments) in the competition for a new round of financing application Uber car financing, Uber's valuation of up to 17 billion US dollars.

Informed sources said there are other investors vying to invest in the San Francisco startup, financing terms may change.

Successful completion of the new round of financing at a valuation of US $ 17 billion will surpass well-known public companies including Hertz Global Holdings and Best Buy. Other private start-ups, such as Dropbox and Airbnb, recently succeeded in getting financing for a $ 10 billion valuation.

Uber and Fidelity Investment declined to comment on the above news.

Uber CEO Travis Kalanick said last week that Uber may "set a record" in valuing the new round of financing.

Last month, Bloomberg reported that Uber was negotiating with new private equity investors seeking to raise no more than $ 1 billion with a valuation of more than $ 10 billion. Informed sources said Uber wants to obtain new financing to promote growth and expand operations.

At present, the financing of start-ups is quite hot, once again triggered the discussion of whether Silicon Valley is in a new bubble. Data from CB Insights, a market research firm, shows that while the tech IPO is less profitable than the Internet boom in the late 1990s, the amount of venture financing in the first quarter of this year was as high as $ 10 billion. According to a survey by law firm Fenwick & West, in the first quarter, the median valuation of venture capital firms hit a new high since 2004.

Founded in 2009, Uber currently has a cumulative total of $ 307.5 million in financing including Benchmark, Menlo Ventures, TPG Capital and Google Ventures. The company employs 900 people and its services cover 115 cities around the world.

Translator: Le Bang

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