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May 22, 2015

Uber seeks $1bn credit line, is an IPO next?

Company is in talks with a number of banks over terms of a loan.

By

Uber is looking for a $1 billion line of credit from banks, which may suggest that the company may be seeking an IPO in the future.

This isn’t the only hint which suggests a move towards an IPO, with the company achieving a $41 billion valuation in a recent fundraising round and the sale of convertible debt to investors.

The Wall Street Journal reported that the car-sharing company is seeking the loan and has recently contact a number of banks to discuss details over how much they would be willing to commit and at what terms.

Other companies which have taken a similar route to an IPO include Facebook and Alibaba which also sought large credit facilities before an IPO.

The company, which has bid to acquire Nokia’s digital map business has also secured more than $5bn in debt and equity from investors since it launched.

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