If it seems like Uber is working on another new round of funding, that is because Uber is always working on another new round of funding. Bloomberg and The Wall Street Journal are reporting that the company has closed a new investment which values it at $50 billion, and also includes Microsoft as a backer. The round gave Uber another $1 billion, putting its total funding at $5 billion.
Uber's endless appetite for cash is driven by its equally ambitious plans for expansion. It is currently active in over 50 countries and 300 cities around the globe. It is hiring drivers and adding cars at a rapid pace in all these territories, while also spending considerable amounts on political lobbying and legal battles with regulators.
Google and Uber are on a collision course
Google has been a back of Uber through its investment arm, Google Ventures, but the two companies are also on a collision course of sorts. Both are hard at work on driverless cars, and Google is testing out both package delivery and ride-sharing apps. Uber recently poached the head of Google Maps, ironic given that it is the only transportation option currently available for purchase directly within that service.
Microsoft seemed to be paring down its focus under new CEO Satya Nadella. It's investment in Uber may simply be that, an investment of its considerable cash horde. But it's hard not to see this as a strategic move, giving Uber a powerful ally against Google and Microsoft a stake in a fast-growing future titan of technology. After all, Microsoft, in slimming down, recently sold its Bing mapping division to Uber, transferring over both technology and employees.