Yet another billion for Uber. American international transportation network company UBER is reportedly planning to raise to $1 billion in new investment according to New York times. Investors are looking at a valuation of between $60 billion and $70 billion for the 6-year-old startup.
I will update this story once I get a response from an Uber spokesman.
However, the company has also signaled its ambitions go beyond getting people from A to B, with merchant delivery programs, such as food delivery (Uber Eats) and a same-day courier service (Uber Rush), being piloted and soft launched in various cities.
It’s also engaged in driverless car tech research — envisaging an evolution of its platform, down the road, where Ubers are driven by robots rather than self-employed human ‘partners’. The meatsacks will just be sitting in the back.
The accelerating stack of investment rounds and valuations is a measure of the scale of Uber’s ambitions to become a global on-demand logistics platform business — a vision that’s clearly convinced investors. (Albeit, it gets easier to be convinced when you’re taking a punt on an $8 billion investment stack).
That said, the company continues to face various problems on the regulatory front in multiple markets, clashing with more heavily regulated taxi industries, for instance. And it has drawn fire for its attitude to user data and privacy. So spending on lobbying and lawyers is another Uber cost centre for investor cash
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