Business

Throwing Money at Start-Ups in Frenzy to Find the Next Uber

(AP Photo/MigraHac)
(AP Photo/MigraHac)

(New York Times) – The $41 billion valuation for the ride-sharing service Uber may or may not be a bubblicious number, but it certainly shows that the venture capital industry is in a bad place.

To understand, you need only peruse the startling valuations for other companies that have received venture capital funding in the last few weeks. Here are some of them:

■ Instacart, a same-day grocery delivery service based in San Francisco, began a $100 million fund-raising round valuing it at $2 billion.

■ WeWork Companies, a company that provides shared office space (think Uber for offices), closed a $355 million funding round valuing it at $5 billion.

■ Stripe, an online payment company, completed a $70 million investment round that valued it at $3.5 billion, double its $1.75 billion valuation earlier this year.

■ The mobile games maker Kabam announced that employees and investors were selling $40 million in shares to a group of investors. After an earlier round of investment last summer, the company was valued at more than $1 billion, up from $700 million last year.

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