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Uber Denies It’s Raising Money, Says Report is “Completely False”

by Todd Haselton | April 30, 2013April 30, 2013 3:30 pm PST


Uber denied on Tuesday that it’s raising money that could value the company at $1 billion. The funding news was first reported by Reuters, which said that it would be one of just a few recent startups to receive that sort of valuation. Right after that report was published, however, the company said that it’s not looking for any funding at all and that the Reuters report was “completely false.”

“This company has not pitched a single investor since November 2011 and has not sought any funding whatsoever since then,” the company said in an email to BusinessInsider.

The three year-old Uber currently provides services in the United States and abroad in a handful of countries, although it has faced some barriers in New York City where it was nailed with a lawsuit from the livery cab industry.

Reuters didn’t say who was interested in pumping additional funding into Uber, although it did say that today’s investors typically want to see a return that’s three times the investment. 

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...