Morning Agenda: Why Uber Keeps Raising Billions
ByWHY UBER KEEPS RAISING BILLIONS | It feels like almost every other week there is a new headline about Uber raising more money,
Andrew Ross Sorkin writes in the DealBook column.
If you add up all the money the company has raised since it started in 2009, it is on its way to amassing $15 billion and has a valuation of $68 billion — all while remaining a private company.
When Amazon went public in 1997, it had raised $54 million and was valued at $438 million.
Uber has to finance its efforts to grab market share in China and India, but it is also trying to mark its territory. Every time Uber raises another $1 billion, investors find it less attractive to back one of Uber’s rivals: Didi Chuxing, Lyft, Gett, Halo, Juno. It is a war of attrition, to starve the competition of cash…
Morning Agenda: Why Uber Keeps Raising Billions
