Uber Valued At About $62B In New Offer To Buy Company Stock

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Three investors are looking to buy stakes in Uber and have valued the company at $62 billion.

The ride-hailing giant said Wednesday the investors want to buy up to $600 million worth of the private company’s stock.

They’re offering $40 per share, giving Uber a valuation that’s nearly 30 percent above the $48 billion set in a January stock sale.

The announcement comes as Uber posted a $2.46 billion first-quarter net profit largely due to one-time gains from the sale of businesses in Southeast Asia and Russia.

Without the gains, the company still lost money before taxes and depreciation, but the $304 million in red ink was half of the number from a year ago.

Income statements released Wednesday show Uber’s gross bookings and revenue rose dramatically during the quarter.

(AP)