Uber Gets $1 Billion From Microsoft

What is it?

Uber may have just closed a funding round that just made its market value reach to $50 billion dollars. The ride sharing company according to Wall Street Journal just raised $1 billion dollars in its latest round of funding. Because of this the company has now gained $5 billion dollars in total funding. Uber has been doing a lot of efforts to expand globally especially in China and India.

“Uber has grown exponentially in India, a global priority market for us, which has also quickly become the largest market geographically for Uber outside the US,” said Uber’s India President Amit Jain.

Why is this important?

The funding that Uber has gained can help in its global expansion and this means more jobs can be created and more users can experience the Uber mania. This shall hopefully prompt other big start-ups to also be involved in its acquisition to further implement Uber’s domination worldwide.

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