• News Desk

UBER RECEIVES $3.5 BILLION INVESTMENT FROM SAUDI


In its quest to build a global empire, Uber has turned to the Middle East for its biggest infusion of cash from a single investor. Uber said on Wednesday that it had raised $3.5 billion from Saudi Arabia’s Public Investment Fund, the kingdom’s main investment fund. The money was part of the ride-hailing giant’s most recent financing round and continued to value the company at $62.5 billion. The investment does not cash out any of Uber’s existing investors.

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#UBER #MiddleEast

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