5 years after its launch, Uber is valued at more than $50 billion. The ride-sharing company simply introduced a new funding round, through which it raised nearly $1 billion.

just shy of $fifty one billion, Uber’s new valuation puts it on par with fb in 2011, the one different project capital-backed startup to have surpassed $50 billion to date. It additionally way Uber has pulled in advance of chinese language cellphone maker Xiaomi to turn into probably the most precious personal startup on this planet.

news of the funding comes hours after Uber announced its plan to invest $1 billion within the Indian market.

This prior December, Uber was already valued at $40 billion, a spectacular sign of the corporate’s ambitions. Uber has not printed plans to move public, but the bump in its valuation is but any other indication that an IPO have to be across the nook.

[via the Wall side road Journal]