Uber is getting richer and richer. It’s now valued at $51 billion after raising another $1 billion in funding, and it got to this stage two years faster than Facebook did. As always, the ride-sharing service has attracted an assortment of investors during its latest funding round — one of them’s none other than tech juggernaut Microsoft, according to The New York Times and The Wall Street Journal. While neither company has admitted it yet, Bloomberg says Microsoft has agreed to back Uber to the tune of around $100 million. It’s unclear whether this means they’re pursuing a deeper relationship or if they’re working together on a project or two, at least. If you recall, though, Uber’s snapped up a portion of Bing’s mapping tech back in June, along with a hundred of Redmond’s employees.
Microsoft is neither the first nor the only tech corporation/personality that has invested in the ride-hailing service. Chinese internet giant Baidu jumped in weeks after it was announced that Uber was already valued at $40 billion with an investment that could’ve been as big as $600 million. Amazon founder Jeff Bezos put his money in the company way back in 2011, while Google Ventures backed it with $258 million in 2013. That was years before both companies announced their intentions to develop self-driving taxi services, making them future competitors. In all, Uber now has $5 billion to spend on the aggressive expansion it’s planning in India, China and Southeast Asia.
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Filed under: Transportation, Microsoft
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Source: The New York Times, Bloomberg, The Wall Street Journal