50 billion dollars. That's how much Uber wants to be valued at, according to the most generous backers of a company they believe will revolutionize the world of private hired commuting. The $50bn private valuation will become a utopian mirage of sorts if Uber raises anywhere from $1.5bn to $2bn in additional funding.
The news was announced by the company earlier in May, and was greeted with polarized reactions. If Uber secures that bout of additional funding, it will officially become the world most capitalized privately held business.
We at Business Of Finance are natural skeptics of the accounting wizardry and phony math which obfuscates rather than clarifies the fair value of startups. By eschewing reality from fiction, anyone can cook up numbers of fairies and unicorns on their inconspicuous books.