Online taxi-hailing firm Uber Technologies has closed a new round of funding, pushing its value to around $51bn.
Citing people familiar with the matter, the Wall Street Journal reported that Uber raised approximately $1bn in the round, bringing its total funding to over $5bn.
Microsoft and the investment arm of Indian media firm Bennett Coleman & Co. are among the companies that have participated the latest funding round.
The news agency added that Facebook took seven years to reach the $50bn valuation milestone, with Uber reaching the same milestone in just five years.
Uber, which was earlier valued at $40bn, is using the money to expand its operations to global cities. Last week, the company said it would invest $1bn in India in the next nine months.
The company recently secured an investment in the range of $1bn from Chinese fund manager Hillhouse Capital Group. In January, it received $1.6bn convertible debt from the Goldman Sachs Group.
Uber is reportedly acquiring some of Microsoft’s map-generating technologies, in efforts to boost its own mapping service which forms the core of the ride hailing service.