Uber raises $1.25 bn, valuation drops 30% to $48 bn: Reports
Cab-hailing startup Uber has raised $1.25 billion from Japan's SoftBank-led team of investors, according to reports. The shares purchased from existing shareholders will value Uber at approximately $48 billion, roughly 30% discount to the startup's most recent valuation of $68 billion, reports added. The team will own about 17.5% of Uber, with SoftBank holding the largest stake at 15%.