Uber Gets Another $3.5 Billion From Saudi Investment Fund

Previously, Uber said they are going to expand their operation in Saudi Arabia, and they need about $250 million to realize it. Compare to other regions; Uber try to break the tradition in Saudi Arabia where they targetted 80 percent of the¬†drivers would be women. Uber knows it is hard to get women driver in that region, and they can avoid conflict with the local sentiment but still they choose the hard way of doing things. The new investment they¬†got from Saudi Arabia’s Public Investment Fund will not cause any departure any Uber’s existing investors. With new, unexpected fund receives, it will help Uber to expand their operation in more than 463 cities.


(via AutoEvolution)

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