Uber’s growth in just one year has been quite laudable. I say this because, as at last year, Uber was valued at $18.2 billion but reports on CNN states that the company is likely to quadruple its value from what it was last year. This is an impressive and skyrocketing growth- for any company to not just double its value but quadruple it.
How do they intend to make this happen? According to PrivCo, a data provider on privately-held companies, Uber plans to raise another $1billion funding. This will value the company between $60billion and $70billion. If this happens, it will be eight round of funding that Uber has gotten since it launched 5 years ago.
Uber is already the most valuable privately-held company in the world. It surpassed Chinese smartphone company Xiaomi earlier this year and should this predictions be right on the $70billion value, it will make the startup worth more than Ford and GM.
Uber operates in more than 300 cities in 63 countries and is yet to go public but making so much strides already. They seem to be maintaining a low profile, if you get what I mean, as the CEO, Travis Kalanick was reported to have said that the company is still young to go public anytime soon.
It is important to state here that a valuation is based on predictions about a company’s potential — so it doesn’t mean Uber has $70 billion. It means investors think it’s worth that much. Not withstanding, the company is sure on its way to greatness.
