Report: Uber To Reach $35-40B Valuation In New Funding Round

November 26, 2014 | The ridesharing application Uber, which has offices in Tel Aviv, Israel, will reportedly close a funding round that will value the company between $35-40 billion. T. Rowe Price Group is in discussions to become an investor in the company and existing investor Fidelity Investments is also set to be contributing to the funding round. Reports suggest that Uber will raised up to $1 billion in the said funding round, an amount that will up the company value from its June valuation of $17 billion. Uber was founded in 2009 by Garrett Camp and CEO Travis Kalanick and now has car booking services in over 220 cities worldwide.