Uber seeks another billion in capital

Uber’s aggressive ascension in global transportation networks made it the wonder-child of high-profile investors.

Just months after raising money, Uber appears to be on the verge of raising another $1 billion from investors.

The company is looking to raise another $1 billion in funding, according to PrivCo, a data provider on privately-held companies.

Uber did not immediately return Mashable’s request for comment.

Uber has no reason to go public at this point.

Uber’s competition around the globe include Didi Kuaidi, the most popular ride-hailing app in China, Ola in India, BlaBlaCar in Europe and Lyft in the US.

Although Facebook went public a year after its last big financing round, Travis Kalanick, Uber’s founder and chief executive, has maintained that he has little interest in going public in the near future.

If and when Uber closes the new round of financing, it will be the company’s eighth round of funding since launching five years ago.

A few government regulators face pressure from their national transportation industry that wants car-hailing services to be more strictly regulated. In spite of legal proceedings and drawbacks, the company stated that it is developing at an accelerated pace and that it opens new locations weekly. Uber has made initial forays into widening its services pool with projects like Uber Eats, a food delivery service, and Uber Rush, a shopping delivery service in certain cities.