Uber Refueling Its Warchest Yet Again, At A Valuation Of Up To $70BN

Uber Refueling Its Warchest Yet Again, At A Valuation Of Up To $70BN

Another month, another billion for Uber... The ride-hailing business is reportedly raising yet again - planning to raise close to $1 billion in new investment according to the NYT citing "people close to the matter", with investors looking at a valuation of between $60 billion and $70 billion for the six-year-old startup.br It's also been spending big on trying to crack specific international markets, such as the Chinese market, where it faces some fast growing local competition - raising around $1.2 billion  last month to fuel its growth there, and another $1 billion in July focused on India .br The company has also signaled its ambitions go beyond getting people from A to B, with merchant delivery programs , such as food delivery   and a same-day courier service  , being piloted and soft launched in various cities.


User: Wibbitz Top Stories

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Uploaded: 2015-10-25

Duration: 01:00