Uber Now Valued at $50 Billion

UBERUber has closed a new round of funding that values the company at $50 billion, the Wall Street Journal’s Doug MacMillan and Telis Demos report.

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The ride-hailing company raised “close to” $1 billion in the new round of funding, sources tell the Journal.

The Journal reports that investors in the new round include Microsoft and Indian media company Bennett Coleman & Co.’s investment subsidy.

Read more at INC.