(MENAFN) Uber Technologies Inc., the American multinational mobile ride hail company, received USD200 million in additional funding from Luxembourg-based investment group LetterOne (L1).
Accordingly, the funding comes to help the San Francisco-based firm's push into emerging markets, supported by L1's knowledge which will be crucial in aiding Uber making cities more accessible.
L1 revealed its excitement in teaming up with Uber as it believes that the innovative firm's highly talented management team possesses the necessary vision to revolutionize the company.
Uber has become one of the biggest venture-backed startups; with a valuation of more than USD50bn based on private investment disclosed to date, it's available in 58 nations and 300 cities worldwide.
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