The mobile car-hailing application is in early talks to raise a new round of financing that could value the start-up at $50 billion, according to a person familiar with the discussions, who spoke anonymously because the process is confidential. Uber could raise around $1.5 billion, given the amount of interest from investors in the company, the person said.
The new capital will not be used primarily for expansion purposes, unlike Uber’s previous financing rounds. Instead, the funding is strategic, with an eye on partnerships, the person said.
Uber declined to comment. The fund-raising was first reported by The Wall Street Journal.