“We filed to authorize this new funding more than two months ago”, an Uber representative told ABC News.
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Uber officials said they had more than $400 million in revenue in 2014 and expect that number to climb to $2 billion for the full-year 2015. The filing is available to the public.
The Journal reports the latest round of funding will help Uber strengthen its technology and help with global expansion. Today it covers n eleven cities across India – Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Pune.
Uber wants to expand into new markets like China, India and greater Southeast Asia, according to NYTimes. Quite how much of a priority only became clear last week, as the ride-sharing service unveiled plans to sink an extra $1bn into the country over the next nine months.
Uber has a history of bringing in important partners during funding rounds.
Microsoft in the past has also shook hands with Uber where Uber could employ Microsoft Cortana Voice Assistant to aid in its standard business. And in March, Times Internet, the digital venture of the Times of India Group media conglomerate, said it had agreed to a strategic investment in Uber. The investment by Microsoft shows the business understanding and closeness among the two companies. Just recently, The New York Times reports Uber had acquired a part of Microsoft’s “mapping-technology assets” and even extended some employment offers to over 100 Microsoft employees. For instance, late last year Facebook stopped using Microsoft’s Bing to power its search function.
Currently, Uber operates in more than 310 cities in at least 57 countries.
Keeping in view the old days where Uber faced resentment and disapproval from the traditional taxi and limousine businesses and was also prohibited to serve all the way from California to Brazil, many doubted Uber’s ability to maintain itself but now no doubts should remain because Uber now is a dollar fifty million worth asset hand in hand with the software mammoth Microsoft.
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In April 2014, Uber was banned by authorities in Berlin, although the company remains active in other German cities.
