Uber in Talks to Raise $500 Million at $12 Billion Valuation, Report Says

And to think, $10 billion sounded like a lot.

Uber is said to be in talks with investment firms this week to raise about $500 million at a $12 billion valuation, according to a report Thursday in The Wall Street Journal. The ride-hailing company is looking to finalize the deal by the end of this quarter.

Reps for Uber did not immediately respond to our request for comment.

As the Journal points out, a $12 billion valuation would make Uber one of the most highly valued venture-backed startups out there. Perhaps more importantly, it would help Uber pull ahead of Lyft, a competitor with comparable funding to date, in terms of capital raised and brand perception. Read more...