Über Raises $1.2 Billion in Venture Capital, Setting Valuation at $17 Billion

Episode 1090

Uber, the app to call a ride from private town cars and vehicles, has received a venture capital investment of over a Billion dollars, with a value of $17 Billion. Leo says that a billion dollars isn't what it used to be. The Wall Street Journal says that value is just plain nuts because there can easily be competitors. The irony is that Uber is only available in a few select cities. It's a neat service though, and you also have the choice of "Uber X," which is a higher end town car service.