The fresh funds will fuel its expansion across the countries. With the newly raised funds Uber’s valuation is now around $68 Bn. The MD of the Saudi sovereign-wealth fund, Yasir Al Rumayyan, will now join the board of the company. Uber plans to use the funds to gain market share in Middle East with more than 19,000 drivers and 395,000 passengers.

Uber gets $3.5 Bn from the Public Investment Fund of Saudi Arabia

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