If it wasn’t already enough with the recent $3.5 billion raise from the Saudi Sovereign Wealth Fund and a valuation of $62.5 billion , Uber is once again raising funds. This time raising $2 billion in the leveraged loan market, making the company the most highly valued VC-backed private company in the world.
Uber’s recent raise of $3.5 billion coming from the Saudi Sovereign Wealth Fund is a historic one. It lead the company to its highest valuation yet and not only that, but also made Uber the most highly valued venture capital-backed company in the world. At the time holding a $62.5 billion valuation.
Yesterday, Market Watch reported that Uber isn’t stopping on its funding frenzy! Now raising $2 billion through institutional investors in order to keep funding its rapid growth. Even though there aren’t specifics of how exactly these funds are going to be used, we can assume that the company may need these funds to stay ahead of competitors like Lyft who has also been creating strategic alliances and expanding its market. With this last raise, the company’s valuation is going to reach an astonishing valuation of $68 billion dollars!
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