Huge Vote Of Confidence: Uber Raises $11 million From Benchmark Capital

Uber, a young startup that let's people book a black car service on the fly via their mobile app, has closed an $11 million round valuing the company at $49 million pre-money valuation, $60 million post-money, we've confirmed from sources. Benchmark Capital led the round, with participation from previous investors. Benchmark partner Bill Gurley joins Uber's board of directors. Sequoia Capital partner Alfred Lin, we've heard, also participated in the round as an individual. It's been quite a year for the company that was originally thought up by StumbleUpon founder Garrett Camp. He doesn't own a car, wanted a private car service instead of using taxis, but didn't want the cost of a dedicated car.

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