Uber Could Be Valued at $3 Billion

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July 30 (Bloomberg) -- Uber Technologies Inc., the mobile-app car service startup, is seeking “hundreds of millions” of dollars in a new financing round to fund its expansion to cities in China and around the world. Doug MacMillan reports on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

$3 billion -- what?

That is a high valuation.

It's one of the hottest startups in silicon valley right now.

They are likely ipo or m and a candidates.

Have a service everyone wants.

Right now, that's very valuable in this industry.

They are raising money right now and the investing -- the investors are not the usual suspects.

Tpg is a private equity company, not typically a name you would see involved in a venture round like this.

Probably what's going on there has to do with the high valuation.

The typical silicon valley venture capitalists are not going to want to invest in a $3 billion company because they don't see an upside there.

Private equity can take that risk.

Google is probably more of a strategic investor.

One of its moonshot is the self driving car, so they see potentially a marriage between the self driving car experiment they have going on and uber, which is a smart way to network in our group of cars.

Maybe they could get waze into every uber.

Why would they be raising money if they want to expand?

They have built a better mousetrap and now they have poured millions of dollars into it.

They can raise money for investors, so why not do it?

They are looking at asia later this summer and they will open their first soul -- seoul, korea office.

They are pressing hard on the excelerator and expanding throughout the world.

The ceo said today that he wants to get into china as well.

But that's a completely different story where so many tech companies have tried and failed area this company has a history of running up against regulatory hurdles.

Every single market they have entered, they faced regulatory laws that restrict how people can get into cars that are not necessarily governed by the taxi and limousine commission.

They won some key battles on that front they have lawyered up and know how to go after those regulatory battles.

We've talked about some of their competition.

Entries in oral it's just led a huge one.

Do they have them beat right now?

When you walk outside in san francisco, uber beats everyone to the punch.

They have the biggest network and they have a first mover advantage.

The cars on the ground, the network going on, if someone can figure out how to upend them, we will have to see if they can raise enough money and accelerate to catch up.

This text has been automatically generated. It may not be 100% accurate.


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