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Saudi Arabia Invest $3.5 Billion In Cash Infusion

NYT, Mike Isaac and Michael J de la Merced

Uber, which has viewed the Middle East as an important area in its expansion, said the investment further aligned the company with Saudi Arabia as the kingdom planned to transform its economy, reducing its dependence on oil and improving employment.

Holy shit! $3.5Billion, now Uber has about $11B in the bank. Which it needs to fight off Didi in China which Uber spends about $1B a year.

Also good investment for Saudi Arabia since it slowly does not want to count on oil in the future.



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