Until now, Facebook was the only startup to have a $US50 billion valuation before going public.
But on Friday, The Wall Street Journal reported that Uber closed a new $US1 billion round of funding that values the company at close to $US51 billion.
Not only has Uber reached a $US50 billion valuation in an impressive five years since it launched — it did so much faster than Facebook.
Uber’s valuation growth is all the more impressive when you compare it to Facebook’s early years.
According to BI Intelligence, it took three years for the social media giant to get to a billion-dollar “unicorn” valuation, and it was “only” worth $US15 billion by its fifth year. It took almost 8 years for Facebook to get to the $US50 billion threshold, before hitting its massive $US100 billion IPO in 2012. Facebook is now worth around $US225 billion.
Uber raised close to $US1 billion in its new round, The Journal reports. In total, the company has raised more than $US5 billion from investors.