Less than a year after it raised $258m from investors including internet company Google, US-based lift sharing company Uber is raising another large venture round that will value it at about $10bn, Bloomberg has reported.
Google Ventures, Google’s corporate venture capital unit, led the $258m series C round in August 2013. The round, which also featured TPG and Benchmark, valued Uber at about $3.5bn.
Although talks remain at an early stage, the company is reportedly targeting “several hundred million dollars” in its latest fundraise.
Sources told the Financial Times that Uber was incentivised to launch a new funding round by the $250m raised by competitor Lyft in an Alibaba-backed round last month, and that Uber would likely use some of the proceeds from the round to allow existing investors to cash in their stock.
Uber has raised over $300m in equity funding since it was founded in 2009 from backers such as Menlo Ventures, CrunchFund, Goldman Sachs, Lowercase Capital, First Round Capital, Innovation Endeavors and a host of angel investors including Troy Carter, Jeff Bezos, Shawn Fanning and Naval Ravikant.