Uber reportedly going for another $1 billion in funding

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In what may be a private company money-raising record, Uber is reportedly raising yet another round. You may be asking yourself — wait, didn’t they just raise $1.2 billion? Yes, that was in June. And according to Financial Times sources, now Uber supposedly wants to raise another $1 billion, aiming for a $17 billion valuation to help fuel its international growth. Normally at this point a company would go public to get the revenue for that level of scale, so it’s not entirely clear why Uber is choosing the private funding route.

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jjj

Uber has such a bad image and unsustainable business model that that only the overexcited Silicon Valley would put any money in it. At some point soon Google might want to get out of that for ethical reasons.

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