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Fidelity joins race to fund Uber, sees valuation at $17 bln -report
June 3, 2014 / 1:37 AM / 3 years ago

Fidelity joins race to fund Uber, sees valuation at $17 bln -report

June 2 (Reuters) - Fidelity Investments has joined the race to lead Uber Technologies Inc’s new financing, valuing the San Francisco-based online car booking service provider at about $17 billion, Bloomberg reported on Monday.

Other investors were keen on investing in the startup, and the terms of the funding could change, said Bloomberg citing people familiar with the matter. (link.reuters.com/pyr79v)

The completion of this new financing would make the company more valuable than car-rental service Hertz Global Holdings Inc and retailer Best Buy Co.

The Wall Street Journal reported last month that General Atlantic, BlackRock and Technology Crossover Ventures were among those interested in contributing to an investment round.

Uber and Fidelity were not immediately available for comment after normal business hours.

Reporting by Sudarshan Varadhan; Editing by Lisa Shumaker

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