Ride sharing company Uber has reached a valuation of nearly $51 billion after its most recent funding round, The Wall Street Journal reported Friday, citing sources.
The San Francisco-based company raised close to $1 billion in the round from Microsoft and the investment arm of Indian media company Bennett Coleman, among other backers, sources told the paper. The reported Uber valuation would equal Facebook's previous record for a venture-backed start-up.
Uber's influx would bring its total funding to more than $5 billion. The Journal reported in May that Uber told investors it intended to raise between $1.5 billion and $2 billion.
Uber did not immediately respond to CNBC's request to comment.
The start-up has looked to sharpen its online maps capabilities, and Microsoft has experience in that area, The Journal reported. Microsoft declined to comment to CNBC.