Tag Archives: $40 billion valuation

Unstoppable Uber

Despite being accused of sexism and using underhanded tactics against its rivals and critics, Uber is still on a bullish streak. In early December, it raised $1.2 billion, which valued the company at $40 billion, making it one of the world’s most valuable technology startups. In the same month, it also received $600 million from Baidu and closed $1.6 billion in convertible debt from Goldman Sachs. To top that off, Uber recently raised another $1 billion, bringing its total Series E to $2.8 billion. So why is Uber stirring up so much interest from investors? According to news reports, Uber has been telling potential investors that it expects a gross revenue run rate of around $10 billion in 2015 or more than double its 2014 projected revenue of $4 billion. With 300% gross revenue growth last year, the company expects another 300% this year, making its projected $10 billion gross revenue a very real possibility.