More valuable than most of the world.
Too bad Costa Rica, you’re worth less than an app.
That’s what we learned Thursday when rumors began flying that Uber is raising over $2 billion, increasing its value to more than $62.5 billion. That’s with a “B.” In other words, Uber and its investors at least think it’s worth more than the individual economies of 60 percent of the nations on Earth.
Yes, you read that right. The World Bank’s data on GDP across the globe shows Uber’s valuation is higher than the total economic output of 120 of the 194 countries it tracked last year. In other words, if the ride-hailing app were a country, its economic output would rank at No. 74 worldwide, right above Kenya (which, by the way, is home to 45 million people).
Oh, and it would also be larger than Luxembourg, Guatemala, Uruguay, Croatia, Bulgaria, Macao, Ethiopia, Costa Rica and Slovenia.
Uber was founded in 2009 and has since grown to operate in hundreds of cities and more than 50 countries. Almost exactly a year ago, it was valued at between $35 and $40 billion.
The $62.5 billion valuation, reported by Bloomberg, is just the latest rumored valuation for the high-flying app.
But don’t pick your jaw up off the floor just yet. Consider Apple, whose value is currently pegged at more than $642 billion, making the Cupertino, California, iPhone maker more valuable than all but 21 of the world’s economies.
Perhaps you’ve heard of a place called Sweden and its vaunted Volvos? Yeah, it would be ranked right behind Apple-stan (if it were a country).
And if you’ve got an idea for a killer app that could be the next Uber for, say, surfboard rentals, consider launching it from Costa Rica. The waves are great there and the country could always use a little GDP boost.