Tech

Uber raises additional $1.2bn in funding


Uber is seriously readying itself for a fight -  fight for the market share, against the competitors, the regulatory agencies, and anything that could stands on it's way in effort to maintain it's competitive edge.

The interactive ride-sharing app announced Thursday that it had raised $1.2 billion in additional funding, bringing the company's total value to $41 billion.

According to ABC News, the company is making efforts to display resilience in the face of recent operational, privacy and personnel issues, in addition to facing increased competition in the ride sharing space. In a statement, co-founder Travis Kalanick said Uber is "acknowledging mistakes and learning from them. We are collaborating across the company and seeking counsel from those who have gone through similar challenges to allow us to refine and change where needed."

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