Uber’s new fundraising goal is is even larger than previously reported.
On-demand car company Uber today filed in Delaware to authorize up to $1.8 billion of new Series E preferred stock. The document was first spotted by VCExperts, which says that Uber’s valuation could hit $40 billion if all of the authorized shares are issued.
This is the same valuation that Bloomberg reported late last month, although that story only said that Uber was seeking to raise “at least $1 billion.” Prior to this new round, the San Francisco-based company had raised around $1.5 billion, including a $1.2 billion round just this past summer led by Fidelity Investments at a $17 billion pre-money valuation.
It is unclear if Uber has finalized the Series E raise, which is separate from a large convertible debt offering that Uber currently is selling to high-net-worth clients of Goldman Sachs (apparently without having to pay normal Wall Street fees). Word is that, if the Series E raise isn’t done, it’s extremely close.
An Uber spokeswoman declined to comment.