Uber, the San Francisco, CA-based on-demand ride-hailing platform, has just closed a $1.2bn financing round.
The round closed at a $17bn pre-money valuation. The total raise will be about $1.4B with a second close of strategic investors soon.
According to the Wall Street Journal, new investors include Fidelity Investments, Wellington Management, and BlackRock Inc., with participation from Summit Partners, Kleiner Perkins Caufield & Byers, Google Ventures, and Menlo Ventures.
Led by co-founder and CEO Travis Kalanick, Uber connects riders to drivers through a mobile app. Founded in 2009, it is present in 128 cities in 37 countries. In 2013, the company raised $258m in a round was led by Google Ventures with TPG Capital (read here).