Total funding is now $4 bn

Report: Uber raised a $1.6 billion convertible debt round

Uber clearly does not subscribe to the ‘mo money ‘mo problems theory. The company has raised another $1.6 billion dollars, this time in a convertible debt round from Goldman Sachs according to Bloomberg sources. It’s a loan that will turn into a stake in the company when Uber goes public, at a 20 to 30 percent discount on Uber’s IPO valuation. It adds to the company’s warchest, bringing its total funding up to more than $4 billion, with the company still working to raise another $600 million in the near future from hedge funds.

One Response to “Report: Uber raised a $1.6 billion convertible debt round”

  1. Robert Blake

    And how exactly can our small local transportation businesses compete with this criminal Wal-mart of transportation ???

    Unreal. Uber breaks laws and gets billions. Small businesses follow laws and get taxed and harassed.