Latest Round Of Funding Pushes Uber’s Valuation To $3.5 Billion

Uber reportedly raised $350 million from TPG, Benchmark Capital, and Google Ventures.

Latest Round Of Funding Pushes Uber’s Valuation To $3.5 Billion

With a new $350 million round of funding under its belt, Uber now sports a valuation of about $3.5 billion.

First reported by AllThingsD, an Aug. 1 filing with the SEC reveals the company sold shares of preferred stock to investors totaling more than $100 million. Google Ventures, which was not named in the filing, has also reportedly invested about $250 million for 1.8 million C-1 shares, according to AllThingsD. An Uber spokesman declined to comment on the company’s funding and valuation.

Private equity firm TPG bought 775,092 shares of Series C-2 stock at $114.03. In addition, Benchmark Capital, an existing investor, bought 105,234 shares of Series C-1 stock at $142.54. Uber now has a presence in 41 cities in 16 countries, most recently expanding to China.

[Image: Flickr user masterplaan]

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Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal.