Uber is inching closer towards becoming the most valuable startup of all time. The on demand ride hailing company is eyeing a whopping $1.5 billion in latest round of funding, as per a latest report from the Wall Street Journal.
The WSJ report stated that Uber is looking to raise between $1.5 and $2 billion in a new funding round that would value the company at more than $50 billion. Uber is expected to use the raised new capital with an eye on partnerships instead of the usual expansion purpose. A new acquisition could also a possibility as the company is among an array of bidders for Nokia HERE Maps.
In February of 2014, the company was said to be valued at $18 billion. Just this past December, the company was valued at $41.2 billion. Earlier in February this year, Uber secured $1 billion in funding. At a $50 billion valuation, Uber would be the world’s most valuable private start-up, topping the Chinese electronics maker Xiaomi, which was last valued at $45 billion.