- Uber has raised $1.2B at a whopping $17B pre-money valuation - well above the $10B valuation the app-based taxi service platform was reportedly targeting not too long ago.
- The funding round makes Uber, which receives a 20% cut on enabled taxi fares, nearly as valuable as LinkedIn, and more valuable than Yahoo after backing out its Alibaba/Yahoo Japan stakes.
- GSV Capital (GSVC +4.3%), which has invested in Uber rival Lyft and plenty of other late-stage startups, has received a boost from the report. Google invested in Uber last year at a much lower $3.5B valuation.
- In a Q&A, CEO Travis Kalanick notes Uber is now in 128 cities and nearly 40 countries, and is experimenting with an expansion into logistics services. A courier service called Uber Rush was recently launched in Manhattan.
From other sites
at CNBC.com (Aug 19, 2014)
at CNBC.com (Feb 1, 2012)
at CNBC.com (Jan 31, 2012)
Video at CNBC.com (Jan 27, 2012)
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