Uber is raising $2.1 billion in new private equity funding at a whopping $62 billion valuation. For context, that’s higher than the market cap of General Motors, and it was done at fairly standard terms (1x liquidation preference, no “ratchets”).
Second, four Uber rivals from around the globe have signed a “strategic partnership” through which they’ll work together on both technology and services. The new partners are Lyft (U.S.), Didi Kuaidi (China), GrabTaxi (SouthEast Asia) and Ola (India).
Fortune Magazine article here