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Uber gets $3.5 billion investment from Saudi Arabia

.@Uber just closed it's latest investment round. $3.5 billion. That's $12.5 billion in total

  • Uber just got $3.5 billion from Saudi Arabia
  • Uber first began operating in the kingdom in 2014.
  • Uber CEO Travis Kalanick said in a statement that the company is partnering with Saudi Arabia to support its economic and social reforms.
  • The investment also falls in line with Saudi Arabia’s recently announced Vision 2030, the kingdom’s plan to reduce its dependence on oil during the next 15 years, Uber said.
  • Yasir Al Rumayyan, managing director of the Public Investment Fund, will join Uber’s board of directors. The deal will not cash out any of Uber’s existing investors.

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@ConallLaverty: “.@Uber just closed it’s latest investment round. $3.5 billion. That’s $12.5 billion in total”

Uber received a cash infusion from Saudi Arabia’s Public Investment Fund, the kingdom’s main investment fund.

Uber gets $3.5 billion investment from Saudi Arabia