Uber Receives $3.5 Billion Investment From Saudi Wealth Fund

Uber Technologies Inc. said it received its biggest investment to date, raising $3.5 billion from the Public Investment Fund of Saudi Arabia. The investment valued Uber at $62.5 billion, the same amount as its previous valuation, the company said Wednesday in a statement. Yasir Al Rumayyan, the managing director of Saudi Arabia’s sovereign wealth fund, will take a board seat.
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