THE NEWS WRAP: Uber is seeking another $US1.5 billion in funding

On-demand ridesharing company Uber is looking to raise another $US1.5 billion in funding as the startup continues its rapid expansion into other markets and verticals.

The latest raise could value Uber at $US50 billion or higher, according to The Wall Street Journal.

This would make the startup the most highly valued private company of all time, ahead of electronics manufacturer Xiaomi’s $US45 billion valuation last year.

GoPro’s chief executive steps in to lead SurveyMonkey

The chief executive of GoPro will step in as SurveyMonkey’s head of operations following the sudden death of David Goldberg last week.

Re/Code reports Zander Lurie was on the board of SurveyMonkey and was a good friend of Goldberg’s.

Lurie will fill the role for three months while the board searches for a permanent chief executive. SurveyMonkey is valued at more than $2 billion.

Facebook is testing an in-app search engine for statuses

Facebook is testing an in-app search engine to help users easily find websites and articles to link to during status updates.

“We’re piloting a new way to add a link that’s been shared on Facebook to your posts and comments,” a company spokesperson told TechCrunch.

If rolled out to all users, the update will allow people to avoid opening another tab to search for a link to share.

Overnight

The Dow Jones Industrial Average is up 267.05 points, rising 1.49% to 18,191.11. The Aussie dollar is currently trading at around 79.3 US cents.

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