Webpress Daily


Uber raises unprecedented $3.5 billion funding round because it can

Uber is apparently on a quest to raise all the money left in the world.
The ride-hailing giant confirmed Wednesday that it has raised $3.5 billion from Saudi Arabia’s Public Investment Fund, the single largest round of funding ever for a private U.S. company.
To put that in perspective: This one $3.5 billion funding round is more than Uber rivals Lyft and Gett have raised combined in their entire history.
The additional capital is part of Uber’s previous round of funding, valuing the startup at $62.5 billion, according to the company.
Uber has now raised $11.5 billion in capital to date, according to data provided to

Original Article