Uber more valuable than U.S. car companies GM and Ford

Ride-sharing service Uber, known for its mobile app that allows users to hail a ride using their handset, is making investors drool. The company is seeking to raise $ 2.1 billion in financing at a valuation of $ 62.5 billion. Yes, that is billion with a “b.” What makes the valuation of this private company stand out, is that it surpasses the market capitalization of a couple of auto companies that you might be familiar with.

As of the Friday close of the New York Stock Exchange, General Motors and Ford were each valued in the neighborhood of $ 56.4 billion. In addition to the two American behemoths, …
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