Fortune reports “taxi-destroyer” Uber just received another $1.6 billion in funding via convertible debt—bonds that can become stock in the company at a discount to the shares’ face value. This follows an injection of $1.2 billion just two months ago… when the 2009 startup’s valuation hit $41.4 billion.
That made Uber the most valuable startup company in history… surging 126% in just six months.
If you think Uber’s “hypergrowth” story to this point is impressive… consider these points from the website Growthhackers:
• If you think of Uber as a town car company operating in a few cities, it is not big.
• If you think of Uber as dominating and even growing the town car market in dozens of cities, it gets bigger. (Data point: There are now more Uber black cars in San Francisco than there were ALL black cars before Uber started.)
• If you think of Uber as absorbing the taxi markets, it gets pretty huge.
• If you think of Uber as bringing taxis to parts of the world that did not have them before because of insufficient density, it gets even larger.
• If you think of Uber as a personal logistics service that can drive your kids to school and back, take you to work, pick up your parents at the airport, drive you to date night so you can get your drinks on… it gets very, very large.
• If you think of Uber as delivering both people as well as things (packages, dry cleaning, groceries), it gets even larger.
• If you think of Uber as a replacement for your car, it gets even larger.
• If you mix in a fleet of self-driving cars, orchestrated by Uber, it grows again.
• If you think of Uber as a giant supercomputer orchestrating the delivery of millions of people and items all over the world, you get what could become one of the largest companies of all time.
Bottom line: Uber’s use of disruptive technology is transforming the world in front of our eyes. Taxicab companies—as they exist right now—are finished. Even at a valuation of over $41 billion, the company’s hypergrowth story is still in its early stages.
To see if Uber (now in 54 countries and growing) operates in your hometown, click here.