Uber Raises $1.2 Billion in Funding at $17 Billion Valuation

June 6, 2014

2:32 pm

Cha-Ching…looks like Uber is joining the $17 billion Club. 

The San Francisco-based black car service transportation announced today that it has raised $1.2 billion in a new financing led by Fidelity Investments

Uber’s CEO Travis Kalanick confirmed the funding and valuation by saying that, “With our growth and expansion, the company has evolved from being a scrappy Silicon Valley tech startup to being a way of life for millions of people in cities around the world. This ‘Uber’ way of life is really a reflection of our mission to turn ground transportation into a seamless service and to enable a transportation alternative in cities that makes car ownership a thing of the past.

Uber is available in 128 cities in 37 countries worldwide, and their new valuation is a record for technology startups in a direct investment round.

Kalanick was a speaker during a past Tech Cocktail Startup Mixology conference where he shared his entrepreneurial experience, which led him to build a now billion dollar company. It’s very insightful – enjoy!

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