Uber valued at $17bn in new funding round with Fidelity

 
Elizabeth Fournier
Source: Getty
Mobile car booking service Uber has been valued at $17bn (£10.13bn) after raising $1.2bn of primary capital in a new fundraising round.

The San Francisco-based firm – set up just four years ago by entrepreneurs Garrett Camp and Travis Kalanick – raised the cash via a group of institutional investors, mutual funds, private equity and venture capital partners, which is thought to have been led by Fidelity Investments.

The company also said it expects to raise $1.4bn in total through a second round of strategic investors soon.

In a blog post yesterday, Kalanick said the firm, which now operates in 128 cities in 37 countries, was “just at the beginning of the Uber story”.

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