Uber's Valuation Rockets to $17 Billion, Report Says

Less than a year ago, reports were circulating that on-demand car service Uber was closing in on a $1 billion valuation. Now that looks like pocket change.

Last week, the company's reported valuation jumped quickly from $10 billion to $12 billion. On Sunday, a new number made the rounds: $17 billion

The Wall Street Journal reports that the latest funding round for the company has attracted a lot of interest from investors, prompting a run-up in its valuation. The swooning numbers have scared off at least one potential investor: The investment firm General Atlantic passed after the quoted valuation was around $14 billion, the Journal reports. Read more...