Uber plans to fundraise additional $1B: Report

The Uber app on a mobile phone
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Uber, the San Francisco-based ridesharing company, is looking to raise at least $1 billion in new capital, according to a report from the Financial Times.

This comes less than six months after the company collected $1.2 billion in funding. That round of fundraising put Uber's valuation at around $17 billion, and the FT report indicates the company hopes to surpass this figure with the next round.

As the FT indicated, an additional billion dollars in funding would allow Uber to "expand further in Asia, Latin America, Eastern Europe and Africa, as well as build out new transportation and logistics services after experiments with New York bicycle couriers and food delivery in Los Angeles."

Uber looks to raise $1 billion
Uber looks to raise $1 billion