Money in U.S. dollars

Uber: $40B in value?

Public relations screwups have recently haunted ride-sharing company Uber.

First, there was the Halloween¬†“surge pricing”¬†that resulted in some customers being charged hundreds of dollars for rides. That was followed by BuzzFeed News reporting a company’s executive saying the firm should start doing opposition research to silence journalists critical of the company.

But the negative publicity hasn’t hurt the company’s perceived value.

According to Bloomberg News, a potential round of financing by Uber Technologies Inc. has the company valued as high as $40 billion. That means the company is more valuable than 75 percent of the firms on the Standard & Poor’s 500 Index members.

If Uber completes the financing, that could put it above:

— Tesla Motors Inc., with a market value of $31 billion

— Netflix Inc., at $21 billion

— Alcoa Inc., at $20 billion

— Charles Schwab Corp., wealth manager worth $37 billion

— Delta Air Lines Inc. and American Airlines Group Inc., with market caps of $37 billion and $32 billion, respectively

On a local note, T. Rowe Price Group Inc. is rumored to be interested in investing in the company.

About Adam Bednar

Adam Bednar covers real estate and development for The Daily Record.

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