Uber Confirms $1.2 Billion in Funding, $17 Billion Valuation

What's This?

Uber CEO and cofounder Travis Kalanick in Sun Valley, Idaho, in 2012.

Image: Paul Sakluma/Associated Press

By Todd Wasserman2014-06-06 17:24:46 UTC

Uber on Friday announced that it had raised $1.2 billion, bringing its valuation to $17 billion.

"It’s remarkable that it was only four years ago this week Uber started operations in [San Francisco], connecting residents with the safest, most reliable way to get around the city," CEO Travis Kalanick wrote in a blog entry. "Today, we are operating in 128 cities in 37 countries around the world with hundreds of thousands of transportation providers and millions of consumers connecting to our platform." Kalanick wrote the "total raise" for Uber will be $1.4 billion with a second round of investors "soon."

See also: Uber CEO: We're in a Political Battle with an 'Assh*le'

Rumors of the funding and valuation circulated last month.

Topics: Business