Washington, Jan 22 : Taxi firm Uber has reportedly raised 1.6 billion dollars 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 dollars this past December after it raised 1.2 billion dollars in financing.

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