The lofty valuations of some Silicon Valley start-ups have come into question lately, with a few noted venture capitalists arguing over ride-sharing service Uber in particular.
Bill Gurley, who led investments in many noteworthy tech start-ups, including Snapchat and Twitter, defended the ride-sharing service in a CNBC interview on Monday.
"It's the fastest growing company we've ever been involved with," Gurley, a general partner at Benchmark, said on "Squawk Alley." "That's why, when the company was, you know, put in front of a large number of investors, that you ended up with the valuation that it did."
The company, which allows users to call a taxi, private car or ride share through its mobile app, currently ranks among the top 10 free apps on the Apple App Store, Gurley said. In turn, the company has added roughly 50,000 new drivers a month, he added.