Uber CEO Travis Kalanick in Manhattan. Photo by Julia Glassberg / New York Times.
Uber CEO Travis Kalanick in Manhattan. Photo by Julia Glassberg / New York Times.

Boston-based Fidelity Investments is expected to co-lead a major new investment for Uber that could give the ride-hailing app a $17 billion valuation, according to the Wall Street Journal.

Bloomberg had earlier reported Fidelity’s interest in backing a new funding round for Uber.

Fidelity has previously invested in Dropbox and in Facebook while it was still a privately held company.

The round for San Francisco-based Uber — whose service is available in Boston — is expected to reach more than $500 million, the Wall Street Journal reported. The funding is expected to be co-led by Wellington Management.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston. Follow Kyle on Twitter

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