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

    Reputations:
    101,693
    Joined:
    Jun 2, 2012
    Messages:
    13,089
    Likes Received:
    18,356
    Saudi Arabia pours $3.5 billion into Uber

    Associated Press

    [​IMG]


    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

    Reputations:
    392,812
    Joined:
    Feb 18, 2012
    Messages:
    59,878
    Likes Received:
    55,047
  3. OkbyeEric

    OkbyeEric Well-Known Member

    Reputations:
    9,097
    Joined:
    Apr 10, 2016
    Messages:
    1,013
    Likes Received:
    1,962
  4. Anfkid

    Anfkid Blue Banner Mafia Staff Member

    Reputations:
    392,812
    Joined:
    Feb 18, 2012
    Messages:
    59,878
    Likes Received:
    55,047
    Here's @Saudi Mike's Uber outfit
    [​IMG]
     
  5. wife is a whore

    wife is a whore Stripped of POTY for butthurting staff VIP

    Reputations:
    577,394
    Joined:
    Jan 15, 2012
    Messages:
    47,154
    Likes Received:
    78,972
    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

    Reputations:
    123,675
    Joined:
    Aug 31, 2015
    Messages:
    1,681
    Likes Received:
    2,513
    Unrelated:

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

    GLguygardner WE DA BEST!! VIP Gold

    Reputations:
    216,134
    Joined:
    Sep 2, 2010
    Messages:
    12,569
    Likes Received:
    25,650
    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

    Reputations:
    577,394
    Joined:
    Jan 15, 2012
    Messages:
    47,154
    Likes Received:
    78,972
    It sends them an alert that they were tagged into a thread.
     
  9. bluedevil30

    bluedevil30 Well-Known Member

    Reputations:
    22,936
    Joined:
    Aug 20, 2015
    Messages:
    3,558
    Likes Received:
    5,687
    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

    Reputations:
    81,370
    Joined:
    Jan 22, 2012
    Messages:
    3,011
    Likes Received:
    3,738
    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

    Reputations:
    392,812
    Joined:
    Feb 18, 2012
    Messages:
    59,878
    Likes Received:
    55,047
    No he's just a big mushy lovable teddy bear.
     
  12. MadWoman777

    MadWoman777 Well-Known Member

    Reputations:
    34,644
    Joined:
    Mar 2, 2012
    Messages:
    3,795
    Likes Received:
    5,698

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

    suckemnuckledus Well-Known Member

    Reputations:
    20,048
    Joined:
    Mar 17, 2012
    Messages:
    3,190
    Likes Received:
    4,701
    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

    Reputations:
    26,912
    Joined:
    Jan 14, 2014
    Messages:
    1,780
    Likes Received:
    4,052
    This smells like Murdoch buying MySpace. Last cash grab before the implosion.
     
  15. slash2015

    slash2015 Well-Known Member

    Reputations:
    9,789
    Joined:
    Feb 3, 2015
    Messages:
    630
    Likes Received:
    651
    Stop using uber
     
    Dramos likes this.
  16. yaddc

    yaddc Well-Known Member

    Reputations:
    103,980
    Joined:
    Jan 13, 2014
    Messages:
    23,126
    Likes Received:
    20,688
    Lol
     
    MadWoman777 likes this.
  17. AcquiringSignal

    AcquiringSignal Girthy VIP

    Reputations:
    92,344
    Joined:
    Apr 16, 2012
    Messages:
    6,586
    Likes Received:
    17,106
    [​IMG]
     
    yaddc likes this.
  18. SouthernListen

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

    Reputations:
    240,367
    Joined:
    Jan 16, 2012
    Messages:
    38,707
    Likes Received:
    39,434
    Do Uber drivers help you with your luggage?

    [​IMG]
     
  19. larryluncg

    larryluncg Empty VIP Gold

    Reputations:
    14,489
    Joined:
    Jun 28, 2012
    Messages:
    11,147
    Likes Received:
    8,896
    Uber is a tech company. Probably worth around $13 billion
     
  20. bluedevil30

    bluedevil30 Well-Known Member

    Reputations:
    22,936
    Joined:
    Aug 20, 2015
    Messages:
    3,558
    Likes Received:
    5,687
    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.