Uber snags $1.2 bn in new funding at $18 bn valuation

Jun 07 2014, 00:42 IST
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SummaryUber Inc raised $1.2 billion funding from mutual funds and investors, valuing the fast-growing rides-on-demand startup at $18.2 billion.

Uber Inc has raised $1.2 billion in funding from mutual funds and investors, valuing the fast-growing rides-on-demand startup at $18.2 billion, the company said on Friday.

Fidelity Investments put in about $425 million, Wellington Management $209 million and BlackRock contributed $175 million, the Wall Street Journal cited a person familiar with the matter as saying.

Venture firms Summit Partners, Kleiner Perkins Caufield & Byers, Google Ventures and Menlo Ventures also participated in the round, the Journal reported.

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