Uber Raises $1.6 Billion in Financing From Goldman Sachs
Popular ridesharing app Uber has raised $1.6 billion in a deal with Goldman Sachs wealth-management clients.
Goldman Sachs spokeswoman Andrea Raphael says the financing comes in the form of a bond that can later be converted into stock when Uber goes public. Goldman says the deal, completed a few days ago, is one of the largest private convertible debt offerings on record. It was earlier reported by Bloomberg News.
Last month, San Francisco-based Uber raised $1.2 billion in financing that valued the company at $40 billion. That puts it in the ballpark of public companies such as DirecTV and Kraft Foods.
Uber is working on expanding internationally, though it faces regulatory hurdles and opposition from traditional taxi companies in many countries. Uber could not immediately be reached for comment.
This article appeared in print in edition of Hamodia.
To Read The Full Story
Are you already a subscriber?
Click "Sign In" to log in!
Become a Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Become a Print + Web Subscriber
Click “Subscribe” below to begin the process of becoming a new subscriber.
Renew Print + Web Subscription
Click “Renew Subscription” below to begin the process of renewing your subscription.