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Uber

Uber now valued at more than $50bn with Microsoft reportedly among investors

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By Cameron Clarke | Editor

August 1, 2015 | 2 min read

Ride-hailing app Uber has completed a new round of funding that values the company at almost $51bn, with Microsoft said to be among the investors that have helped it reach the milestone.

Uber raised close to $1bn in the round, bringing its total funding to more than $5bn, according to the Wall Street Journal. It also reported that Microsoft and the investment arm of Indian media conglomerate Bennett Coleman & Co were among those to plough in funds.

As WSJ explains, Uber’s valuation has now reached the high-water mark set by Facebook in 2011. Its value outstrips other well admired tech contemporaries including Airbnb ($25bn) and Snapchat (around $15bn).

Uber is currently active in over 50 countries and 300 cities around the globe and investors have been attracted by its aggressive expansion plans.

But though it might be the current darling of the tech world, it is not universally popular. As The Drum reported on Thursday, the latest sign of revolt against the service saw Uber drivers attacked in Mexico City this week as licensed taxi drivers demanded a complete halt on the app-based ride service in the capital.

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