Uber in early talks to raise a further US$1b

New York

UBER Technologies Inc is in fundraising mode again to bring in about US$1 billion to finance its rapid international expansion, said people familiar with the situation.

Uber's talks with new and existing investors are at such early stage that it is premature to indicate a valuation, said the people, who asked not to be identified because the details are private. Travis Kalanick, the car-booking company's co-founder and chief executive officer, is seeking a higher valuation than the US$17 billion that Uber got in its US$1.2 billion fundraising from investors led by Fidelity Investments in June, one of the people said.