Uber raises USD3.5bn from Saudi Arabia’s sovereign wealth fund
The investment from the Saudi Arabian Public Investment Fund (PIF) was part of Uber's most recent financing round that valued the company at USD62.5bn, Uber said. It puts the company's total balance sheet, including cash and debt, at more than USD11bn, the company added. As part of the investment, a managing director at PIF, Yasir Al Rumayyan, will take a seat on Uber's board. (Reuters)
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