Uber is one of the most famous Car-hailing company. Uber, the five-year old startup is once again among the list of most valuable venture-backed startups. Uber is a smartphone app which allows the users to book their rides from drivers who are using their own vehicles(Cars).

After the last round of funding uber company is now worth $50 billion which is putting itself on a par with Facebook, which was valued at $50 billion before its IPO. Recenttly, Uber has announced it is going to open a research lab in association with Carnegie Mellon University to study “autonomy technology,” which includes technology for self-driving cars.

Must Read: Wasim Akram Narrates Experience Of Surviving Gun Attack

Uber Becomes the World’s Most Valuable Startup:

Chinese smartphone vendor Xiaomi ($46 billion) and Airbnb ($25.5 billion) are following Uber($50billion). There are 108 ‘Unicorns’ in the world which worth $1bn or more by venture-capital firms. Most of the startups are based in the US and Asia. Since 2000, according to venture capitalist’s an investment of about $50 billion in startups is the highest amount.

Uber has raised its fundings around $4 billion in 2008, allowing it to operate in more than 200 cities across the world. According to the New York Times, It is estimated that Uber could also top the market value of public firms like FedEx and Nissan. Thanks to its cheap rates and user-friendly smartphone service.

Also Read: This is What Every Women Should do Before Sitting Inside the Cab

Uber relies on Google Maps.Uber had submitted a proposal of as much as $3 billion for Nokia-owned mapping service. Uber’s first largest market is U.S. Uber announced that it will use the funds to expand its operations primarily in India, which is its second-largest market. Uber is planning to expand its services into new cities to develop new products and payment solutions in Asian countries.