Mexican Media Brands
Uber Targets Another $2 Billion in Funding
Uber Technologies Inc., which earlier this month secured $3.5 million from Saudi Arabia’s investment fund, is seeking additional money to help it expand in global markets and fend off new competitors.
#economics
Share
Uber Technologies Inc., which earlier this month secured $3.5 million from Saudi Arabia’s investment fund, is seeking additional money to help it expand in global markets and fend off new competitors.
The San Francisco-based ride-hailing service aims to raise $1 billion to $2 billion via a leveraged high-yield loan, The Wall Street Journal reports. Sources tell the newspaper Uber is working with Barclays, Citigroup, Goldman Sachs and Morgan Stanley on the proposed deal. Uber and the investment firms declined to comment.
Following the Saudi deal, Uber said it had more than $11 billion in cash and convertible debt. But the company also is on a spending spree, which includes plans to invest at least $1 billion in China in coming years.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
on the Genesis GV60 interior, EV sales in H1, Bentley Bentayga's wood work, Faurecia's advanced manufacturing & more
The strange glowing orb in the Genesis GV60. . .global EV sales in the first half. . .creating wood for the Bentayga interior. . .the importance of material handling at Faurecia. . .lux ATPs. . .fast Porsche. . .fast Lambo. . .the Avalon Hybrid. . .Silverado steel. . .