Financing might drive Uber’s value over $10B: report

SHARE Financing might drive Uber’s value over $10B: report

Uber Technologies Inc., the company that makes a mobile app for a ride-sharing service, is in talks to raise new financing that might value it at more than $10 billion, Bloomberg reports. That would almost triple the company’s value from $3.5 billion last year.

Ride-sharing companies Uber and Lyft have become popular, especially among younger professionals comfortable with ordering all sorts of services and merchandise on their smartphones.

The ride-sharing operations have come under fire from cab companies, and in Illinois two bills advanced together out of committee Wednesday that would regulate companies such as Uber and Lyft statewide.

“The bill creates regulations and requirements for commercial ride-sharing arrangements or transportation and personal-use vehicle prearranged through a dispatcher for a fee,” said Sen. Antonio “Tony” Munoz, D-Chicago, the bills’ chief Senate sponsor.

In addition to mandating companies provide liability insurance, the combined effect of the bills would divide ride-sharing drivers into two tiers, based on the number of hours they work.

Ride-sharing regulation advances in Senate

UberX aims to be ‘cheapest ride in town’

UberX thwarted in bid to serve O’Hare and Midway airports

The Latest
The Bulls’ “Big Three” of Zach LaVine, DeMar DeRozan and Nikola Vucevic overcame Damian Lillard’s 40 points and turned things around in the second half. But with just two games left before Thursday’s trade deadline, will the win give the front office any clarity?
“Jane’s testimony was not truthful when she claimed she was ‘undecided’ about whether she would seek restitution from the Defendant,” the motions states.
Wife is so fearful of bad news that she’s on the verge of cancelling.
On Saturday, Mayor Lori Lightfoot called Msall “one of Chicago’s great civic leaders” and credited him with helping to improve the city’s finances with his advocacy.