Uber has raised $15bn from private investors since it launched as part of a strategy to ward off smaller competitors in the ever-growing market for ride-sharing technology, says Andrew Ross Sorkin of the New York Times. “Uber’s money-grab is seemingly part of an unspoken strategy to mark its territory,” Sorkin writes. The company will also be able to raise money through so-called angel investors, who are typically venture capitalists and other wealthy individuals with deep pockets looking to invest their own money. many rivals: Didi Chuxing, Lyft, Gett, Halo, Juno”. However, according to Sorkin, this plan has not been particularly successful as yet, given that a long list of rivals has formed globally. Nevertheless, Uber’s master plan could still come to fruition as these rivals will eventually run out of cash in the long-term and venture capitalists will become less inclined to invest in platforms going up against the mighty Uber.
Uber has raised $15bn from private investors since it launched as part of a strategy to ward off smaller competitors in the ever-growing market for ride-sharing technology, says Andrew Ross Sorkin of the New York Times. “Uber’s money-grab is seemingly part of an unspoken strategy to mark its territory,” Sorkin writes. “Every time Uber raises another $1bn, venture capital investors and others may find it less attractive to back one of Uber’s many rivals: Didi Chuxing, Lyft, Gett, Halo, Juno”. However, according to Sorkin, this plan has not been particularly successful as yet, given that a long list of rivals has formed globally. Nevertheless, Uber’s master plan could still come to fruition as these rivals will eventually run out of cash in the long-term and venture capitalists will become less inclined to invest in platforms going up against the mighty Uber.