The latest valuation of Uber Technologies Inc. has been listed as high as US$40 billion, making it more valuable than three-quarters of Standard & Poor’s 500 Index members which include global airlines and giant hotel chains.
The latest valuation comes as Uber attempts to raise US$1 billion in funding, according to a report on skift, and almost doubles the figure set in June of US$17 billion, which at the time was a record for an American-based technology startup.
If Uber completes its proposed financing, it would make it more valuable than the Delta Air Lines and American Airlines Group which has market caps of US$37 billion and US$32 billion respectively, Software firm Adobe Systems, valued at US$36 billion, Kraft Foods Group at US$35 billion, shopping chain Macy’s at $23 billion, Marriott International worth US$22billion and Wynn Resorts capped at $18 billion, to name a few.
