By Chelsea Naso ( December 5, 2014, 6:11 PM EST) -- California-based Uber, an app that connects paid drivers with passengers, is said to be in talks to sell more than $1 billion in convertible debt, Reuters reported Friday, citing a source familiar with the matter. The rumored new funding, which comes after Uber announced it raised more than $1.2 billion in its latest funding round, would boost its valuation to $40 billion, the report said. The debt will convert into equity at a discount of about 20 percent to 30 percent to the IPO price, the report said. The discount increases after a year if Uber has not gone public....
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