Uber now worth more than $50bn after latest funding round
Uber completed its latest round of funding last week, raising the value of the five-year-old company to almost $51bn. Sources have reported that Uber could be planning to use a significant slice of the new funding to boost its presence in the Indian market, where its key competitors in the ride-hailing sector will include companies like Ola.
Uber may also be looking to use its crowd sourcing strengths to branch out into India’s fast growing on-demand express delivery sector (just as it has already started to do in the United States with UberESSENTIALS, UberRUSH and its new Merchant Program).
The company is believed to have built up an enormous war chest from its fundraising which it could use to launch into new markets and woo new drivers. However, some of these funds will have to be set aside to fight the legal and regulatory battles it is facing in the United States and elsewhere.
