Uber is trying to be the biggest company of world.Its already biggest startup and they raised $2 Billion in latest funding round from Tiger Global Management participated in the newest round, led by its partner Lee Fixel, as did T. Rowe Price, said the people, who spoke on the condition of anonymity because the terms are still private.
Uber hired Google Map exec to develop and manage its own map. The participation of Tiger Global, however, is particularly interesting. Tiger Global is an investor in Ola and GrabTaxi, two of Uber’s largest competitors in India and Southeast Asia. It is perhaps the first time a major institutional investor participated in the rounds of both Uber and its major competitors. And on Thursday, Ola and GrabTaxi announced a strategic partnership with Lyft, which is also based in San Francisco and is Uber’s major competitor in the United States.
Uber, meanwhile, has earmarked at least $1 billion toward its growth efforts in China, and continues to spend heavily to establish itself against its Asian competitors.
Uber Is Now Valued Higher Than 80% of the Companies in the S&P 500
Uber is raising more money, and the new valuation will make it larger than stalwarts of the S&P 500, including Dow Chemical, BlackRock, and Netflix.
Uber's rumored valuation bigger than most economies on Earth
Uber's said to be raising an eye-popping $2 billion, pushing its value to more than $62.5 billion. That's bigger than the economic output of most of the countries tracked by the World Bank.
Lyft Joins With Asian Rivals to Compete With Uber
The anti-Uber global alliance of ride-hailing companies has now officially taken shape.
On Thursday, Lyft, a ride-hailing start-up based in the United States, announced a coalition with GrabTaxi, Ola and Didi Kuaidi, three of the largest ride-hailing companies in Asia. Under a partnership, the companies can operate in one another’s home countries, forging new pathways for each in markets they have yet to tap into.
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