Uber reportedly raised $1.6 billion in deal with Goldman Sachs

Taxi firm Uber has reportedly raised $1.6 billion following a deal with Goldman Sachs Wealth Management clients.

The money will be converted into an equity stake in the company when Uber decides to go public, the Verge reported.

Uber’s value was pushed to $40 billion this past December after it raised $1.2 billion in financing. 

The report said that people backing this loan believe it will be worth many times that at its inevitable IPO.