Meet the Uber Rich

Fortune

The valuation of Uber is poised to hit an eye-popping $17 billion in its latest round of funding. (Update: the company confirmed this valuation, along with the round of $1.2 billion in new funding, on Friday.) That makes the four-year-old black car startup one of the most valuable private technology companies in the world. As a result, the startup’s early investors, whose shares are now worth as much as 2,000x their initial investment, are looking pretty smart.

Similar to the way early bets on Facebook [fortune-stock symbol=”FB”] solidified the status of top-tier investors like Jim Breyer, Marc Andreessen, Peter Thiel, Reid Hoffman, and David Sze, Uber is the game-changing home run for dozens of angel investors.

Set aside whether Uber’s $17 billion pre-money valuation is too frothy. After all, this latest round of funding will be led by mutual funds, which have a different return profile than seed-stage investors.

As Fortune noted in February, Uber’s first…

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About ngethenjoroge

Techpreur
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