Ride sharing service Uber has been valued at near $51 billion after its most latest round of funding.
Uber, fresh off a victory against New York City Mayor Bill DeBlasio, reportedly received investments from Microsoft and the media company Bennett Coleman & Co’s Times Internet. The $1 billion plus invested in the company would cap off $5 billion of cash poured into the firm.
The company, who has fought and won regulatory battles in numerous cities where it competes with taxi companies using its fleet of ad-hoc drivers, is one of the so-called “unicorns” of the latest iteration of Silicon Valley investments.
Some say we are entering a new boom economy, while others worry sky-high valuations will lead to another dotcom-style bust.