Feeds

Taxi app Uber's $1bn uber price tag: CEO speaks out

Bigwig puts record straight

The essential guide to IT transformation

Travis Kalanick, the chief of taxi service app Uber, has denied that his company is about to open a new funding round that would value it at over a billion dollars.

Kalanick tweeted that the company hadn't spoken to a single investor about raising new cash injections since November 2011, after reports suggested that Uber was mulling a new round of fundraising.

A familiar person had told Reuters that an investor was the one who reached out to a venture capital firm about a potential new funding round, not the company itself, making neither the source's nor Kalanick's comments mutually exclusive.

It's possible that the investor put the word out to see if anyone would be interested in the firm at that price without having a formal fundraising round in mind; a tactic that's not unheard of from tech startups.

Kalanick didn't say whether the $1bn valuation was outrageous or not. His company's app lets customers quickly book a ride in a limousine or a more ordinary motor in San Francisco, New York and other bustling cities of North America.

He was, however, quite forthright on Twitter about the reports:

A number of startups have commanded similar valuations in the recent past, whether their potential revenue streams are obvious or not, including Pinterest and payments company Square. ®

Next gen security for virtualised datacentres

More from The Register

next story
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?