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."

Published in Deals & Funding


If you only focus on the multi-billion dollar valuations of young companies like Pinterest, Uber and Snapchat, you might assume 2013 has been a very good year for tech startups. In reality, it has been more of a bittersweet year.

Many early-stage companies struggled to raise a Series A rounds of funding, a phenomenon commonly referred to as the "Series A Crunch," which for some meant to fight for their survival. Meanwhile, several later-stage companies like Fab and Rdio laid off large portions of their staff to rein in costs.

Even so, plenty of promising startups raised funds and launched (or teased) exciting features this year in markets ranging from mobile payments to media. What's more, the success of Twitter's IPO has boosted investor interest in other social startups and may help revive the market for tech IPOs, which suffered after Facebook's troubled public offering in 2012.

Published in Features