Report: Uber to raise new funding at a monster $40 billion valuation

Uber is close to raising a new round of funding which would bring the company's valuation to $40 billion, Bloomberg reported Wednesday, citing insider sources. Uber is reportedly looking to raise at least $1 billion

According to the report, T. Rowe Price Group is looking to invest in the ride-sharing service. The U.S. investment firm was not known for investing in Internet companies until it participated in a $100 million round of funding in Twitter back in September 2009. The company also disclosed in April 2011 it had invested in a number of web companies, including a $190.5 million investment in Facebook Read more...

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