Uber may be years from an initial public offering, but it's already pushing stock to retail investors through Wall Street brokerages.
As part of the ride-sharing company's latest round of fundraising, high-net worth clients in the brokerage units of Merrill Lynch and Morgan Stanley will have an opportunity to invest in Uber stock, CNBC has learned.
It's not without precedent for Uber: In early 2015, the company sold $1.6 billion in convertible debt to Goldman Sachs' high-net-worth network. The average customer account size in the deal at the time was reported to be $40 million. Facebook, too, sold stock through Goldman's international retail in 2011, a year before it went public, at a valuation of $50 billion.
The terms of the capital being raised through Merrill Lynch and Morgan Stanley are said to be identical, according to people who have seen the offerings. The deal values Uber at $62.5 billion and its shares at nearly $49 each, according to the sources.