Uber raises $3.5 bn at $66 bn valuation
Taxi-hailing app Uber, which is currently operational in 69 countries, on Wednesday raised $3.5 billion from Saudi Arabia’s Public Investment Fund at a valuation of $66 billion. This is Uber's largest investment from a single investor, and it brings the US-based company's total balance sheet of cash and convertible debt to more than $11 billion. 