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Uber's Valuation Could Soar To $17 Billion

A new fundraising round could make Uber the Valley's most valuable startup.

[Image: Flickr user Thomas Anderson]

Uber is reportedly close to finalizing a new fundraising round that could skyrocket its valuation to $17 billion. Wellington Management and Fidelity Investments are likely contenders to co-lead the investment, the Wall Street Journal reports.

At $17 billion, Uber's valuation would soar above Airbnb's $10 billion. Just a year ago, Uber was valued at $3.5 billion. Fast Company has reached out to Uber, and we will update this post if we hear back.

Last month, the ridesharing startup partnered with Google, giving users the option to hail an Uber car from the search giant's Maps app. Though the company is aggressively recruiting drivers to its platform, Uber CEO Travis Kalanick recently outlined a future where driverless cars will chauffeur passengers around town—further angering cabbies.