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Uber valued at $17bn in new funding round with Fidelity

June 7, 2014


MOBILE car booking service Uber has been valued at $17bn (10.13bn) after raising $1.2bn of primary capital in a new fundraising round.

The San Francisco-based firm - set up just four years ago by entrepreneurs Garrett Camp and Travis Kalanick - raised the cash via a group of institutional investors, mutual funds, private equity and venture capital partners, which is thought to have been led by Fidelity Investments.

The company also said it expects to raise $1.4bn in total through a second round of strategic investors soon.

In a blog post yesterday, Kalanick said the firm, which now operates in 128 cities in 37 countries, was "just at the beginning of the Uber story".

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Source: City A.M. (UK)

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