Reports: Uber Close to Completing Funding at $3-$4 Billion Valuation

by Rich Scherr 0

uberUber, the on-demand car service operating in nearly three dozen other cities, is close to raising as much as $200 million in funding at a valuation expected to fall between $3-$4 billion, multiple media outlets reported. Private equity firm Texas Pacific Group (TPG) is said to be leading the round, which also may include Google Ventures. Sources such as TechCrunch and AllThingsD said the company is in advanced negotiations with the potential investors, and may wrap up the deal in the coming weeks. Uber, which lets clients request a car through their mobile devices, now operates in 35 cities and expects to generate $125 million in revenue this year, AllThingsD reported. The company in 2011 raised $37.5 million at a $330 million valuation from investors including Menlo Ventures, Benchmark Capital and Goldman Sachs. Read more

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