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Uber just blew past a huge milestone 2 years faster than Facebook

uber ceo travis Kalanick
uber ceo travis Kalanick

Flickr/Fortune

Uber CEO Travis Kalanick at Fortune’s Brainstorm conference in June 2013.

Until now, Facebook was the only startup to have a $50 billion valuation before going public.

But on Friday, The Wall Street Journal reported that Uber closed a new $1 billion round of funding that values the company at close to $51 billion. 

Not only has Uber reached a $50 billion valuation in an impressive five years since it launched — it did so much faster than Facebook.

Uber’s valuation growth is all the more impressive when you compare it to Facebook’s early years.

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According to BI Intelligence, it took three years for the social media giant to get to a billion-dollar “unicorn” valuation, and it was “only” worth $15 billion by its fifth year. It took almost 8 years for Facebook to get to the $50 billion threshold, before hitting its massive $100 billion IPO in 2012. Facebook is now worth around $225 billion.

Uber raised close to $1 billion in its new round, The Journal reports. In total, the company has raised more than $5 billion from investors.

NOW WATCH: The insanely successful life of Uber billionaire Travis Kalanick


The post Uber just blew past a huge milestone 2 years faster than Facebook appeared first on Business Insider.