News Saudi Arabia pours $3.5 billion into Uber ....

Discussion in 'The Howard Stern Show' started by HS Cult Leader, Jun 1, 2016.

  1. HS Cult Leader

    HS Cult Leader Elite Member Gold

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    Saudi Arabia pours $3.5 billion into Uber

    Associated Press

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    Uber said Wednesday that it is getting a massive cash infusion from Saudi Arabia.

    The oil-rich nation's sovereign investment fund is putting $3.5 billion into the global transportation company and will get a seat on Uber's board of directors.

    Funding for new tech companies has been slowing in recent months amid concerns that many startups have been over-valued. But San Francisco-based Uber has been able to raise billions of dollars as it pursues ambitious plans to expand around the world.

    Uber says its ride-hailing service now operates in nine countries of the Middle East, one of its fastest-growing markets. In Saudi Arabia, which does not allow women to drive, 80% of Uber passengers are women.


    The Saudi money is part of a larger round of funding by several investors, which valued Uber at $62.5 billion. The company, which has raised well over $14 billion since its founding in 2009, says it now has more than $11 billion in cash and available credit to fund its expansion.

    Yasir Al Rumayyan, the Saudi fund’s managing director, adds to an already politically savvy board of directors at Uber. Media mogul and former political commentator Arianna Huffington became a board member in April. David Plouffe, who ran President Obama’s 2008 campaign, has been on the board for more than a year.

    Such connections could be crucial for Uber to fight governments, taxi drivers and other groups worldwide that view the company as a public safety or competitive threat.

    Uber's regional rivals have also reported big investments this year, as on-demand ride services have grown in popularity.
     
  2. Anfkid

    Anfkid Blue Banner Mafia Staff Member

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  3. OkbyeEric

    OkbyeEric Well-Known Member

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  4. Anfkid

    Anfkid Blue Banner Mafia Staff Member

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    Here's @Saudi Mike's Uber outfit
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  5. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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    I seen whores advertising that they will only do outcall if you pay for their Uber to get to and from yer place. That is great use of the app, and a much better alternative than having an Iraqi lurking around the outside of yer place while yer balls deep in a runaway.
     
  6. a mysterious man

    a mysterious man Well-Known Member

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    Unrelated:

    What is the deal with the posting of '@membername'?
     
  7. GLguygardner

    GLguygardner Chickenshit heel VIP

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    Team @HAL gonna like this
     
    PI Nate likes this.
  8. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

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    It sends them an alert that they were tagged into a thread.
     
  9. bluedevil30

    bluedevil30 Well-Known Member

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    Suckers - I don't think Uber is even profitable. Too many drivers not enough fares. There is a reason cab companies limit medallions - its so drivers can make a decent wage.
     
    DiamondGoddess and yaddc like this.
  10. quitefrankly

    quitefrankly Well-Known Member

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    is Baltimore mike hi pitch erik ???
    I see you refer to him often I'm probably missing somethin
     
    Last edited: Jun 1, 2016
  11. Anfkid

    Anfkid Blue Banner Mafia Staff Member

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    No he's just a big mushy lovable teddy bear.
     
  12. MadWoman777

    MadWoman777 Well-Known Member

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    ... and another $3.5 billion in pine tree "air fresheners"
     
  13. suckemnuckledus

    suckemnuckledus Well-Known Member

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    Try to get on in San Francisco on a busy night!! They could double the amount and still have people waiting for half hour if your lucky.
     
  14. Hamster

    Hamster Well-Known Member

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    This smells like Murdoch buying MySpace. Last cash grab before the implosion.
     
  15. slash2015

    slash2015 Well-Known Member

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    Stop using uber
     
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  16. yaddc

    yaddc Well-Known Member

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    Lol
     
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  17. AcquiringSignal

    AcquiringSignal Girthy VIP

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    [​IMG]
     
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  18. SouthernListen

    SouthernListen I don't follow the crowd. Sorry about that. VIP

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    Do Uber drivers help you with your luggage?

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  19. larryluncg

    larryluncg Empty VIP

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    Uber is a tech company. Probably worth around $13 billion
     
  20. bluedevil30

    bluedevil30 Well-Known Member

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    Why is Uber spending money on ads in NYC for drivers? Everyone who is a potential driver already knows about them. More drivers is better for Uber but worse for drivers.