Uber is reportedly in talks with investment companies to raise around $500 million at a $12 billion valuation, according to The WSJ. This round of funding is expected to close by the end of the quarter.
The $12 billion valuation would make Uber one of the most highly value venture-backed startups. Earlier this year, it was rumored that Uber was looking to raise funding at a $10 billion valuation.
Last summer, Uber raised $258 million in funding at a $3.5 billion valuation. Uber now operates in over 100 cities worldwide and has been dealing with regulatory issues and several of these cities.