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Uber seeks funding to become most valuable start-up ever

The controversial taxi firm is raising new capital from Morgan Stanley's high-net worth clients, according to reports.

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Investors will have to inject a minimum of US$250,000 into the company, in its latest funding venture.

Private car firm Uber is looking to become the most valuable private start-up in history.

The controversial taxi firm is raising new capital from Morgan Stanley's high-net worth clients, according to reports.

Investors will have to inject a minimum of US$250,000 into the company, in its latest funding venture.

San Francisco-based Uber was previously valued at US$51bn by research firm CB Insights, and this would see the firm leapfrog the previous record for a private start-up - General Motors - which had a US$55bn market value.

The firm, which uses an app for people to hail its private-hire cars, has previously claimed that people will no longer bother buying cars, because of the ease and convenience of its service.

But Uber faces a growing number of rivals around the world and is embroiled in a number of legal battles, especially in the UK, where taxi drivers have staged protests against the firm.

Quick facts: Uber Technologies Inc

Price: 29.99 USD

NYSE:UBER
Market: NYSE
Market Cap: $52.56 billion
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