Uber valued at 40 bln dollars after 1.2 bln fundraising in Asia

Uber has announced that the company raised 1.2 billion dollars in venture capital in Asia and that the new report now values the company roughly at 40 billion dollars.

According to the Verge, Uber has raised 2.7 billion dollars in total as the company has found willing investors after it showed a staggering growth to generate two billion dollars in annual revenue.

The company has also been in a lot of negative press reports due to its apparent aggressive promises it makes to its drivers regarding their salaries.

Uber CEO Travis Kalanick wrote in the announcement of the new financing that the company's growth has come with a lot of growing pains.

Kalanick also wrote that Uber has recently learned that it needs to invest in internal growth.