Uber Raises New Funds and Earns $17 Billion Valuation

The car ride service Uber said on Friday that it has raised $1.2 billion at a whopping $17 billion valuation, surpassing virtually every one of its peers in the latest generation of apps.

Uber is an American venture-funded startup and transportation network company based in San Francisco, California, that makes mobile application software that connects passengers with drivers of vehicles for hire and ridesharing services.

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