From $18 billion six months ago, Uber doubled its worth with an additional $22 billion to $40 billion.
In a blog posted on Thurday, Dec. 4, Uber said they gained $1.2 billion on a funding last week. The money raised will be put on substantial advancements and strategic investments, especially in the Asia Pacific region.
Uber is now worth more than Twitter, LinkedIn and Netflix.
“We are 6 times bigger today than 12 months ago – and grew faster this year than last. This progress is remarkable, but it is in the coming years that Uber truly scales and the impact in cities becomes visible,” said Travis Kalanick, CEO of Uber, in a statement.
Amid the controversies Uber is facing left and right, investors are unfazed. In the past few months, the mobile app has been banned from Las Vegas, boycotted by their drivers, criticized because one Uber executive threatened journalists, and other mishaps closely followed by the media.
“This kind of growth has also come with significant growing pains. The events of the recent weeks have shown us that we also need to invest in internal growth and change. Acknowledging mistakes and learning from them are the first steps,” said Kalanick.
The chief executive said that the company specializes in taking swift action in the face of difficulties. He admits. In the next few months, Uber will go through changes that “sets new standards in data privacy, gives back more to the cities we serve and defines and refines our company culture effectively.”
Forrester Analyst, Julie Ask, said Uber focused on making consumers and drivers understand what the company's about. It paid off and made Uber a household name.
From being available in 60 cities in 21 countries a year ago, Califonia-based Uber is now present in 250 cities in 50 countries.
