Posted October 01, 2018 04:27:58The ride-hailing company Uber is looking to raise $1.9 billion in its latest round of financing, as the company looks to expand its business beyond its core city-focused service, and also to accelerate its efforts to gain acceptance in a broader global market.
The funding round, led by Fidelity Investments, is part of a $4.6 billion round Uber secured from Fidelity Advisors last summer.
The $1,000 Series C round is the latest of a series of round for Uber, which has seen its stock rise by almost 20% since the company launched in late 2016, and is now valued at $65.8 billion.
Uber has raised a total of $5.2 billion to date, and the company has been seeking $2 billion from private investors.
It has raised more than $2.8bn in the US, Europe and Japan, according to a Bloomberg Billionaires Index.
While the company says it expects to complete its expansion in 2018, Uber said last week it expects a 20% expansion in 2021.
The company’s first major investment in a private equity firm was the $1bn it raised in May of this year, as part of an expansion in its global workforce.
In addition to its expansion into cities, Uber has also expanded its presence in emerging markets like India and Africa.
It also says it has an ambitious plan to open 100 new cities globally by 2025, with plans to open more than 100 more by 2025.
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