On-demand black car service Uber confirmed on Friday that it has raised a jaw-dropping $1.2 billion in funding at a valuation of $18.2 billion. According to the Wall Street Journal, the capital comes from a trio of mutual fund managers and venture capitalists.
Among the first group are Boston-based Fidelity Investments, which invested about $425 million; Wellington Management, $209 million; and BlackRock Inc., $175 million. Summit Partners, Kleiner Perkins, Google Ventures, and Menlo Ventures also participatied.
Earlier this week, it was reported that Fidelity Investments was jostling to lead the investment.
Uber’s ride-hailing service is now operating in 128 cities and 37 countries around the world.
Wrote Uber founder and chief executive Travis Kalanick in a company blog post:
With our growth and expansion, the company has evolved from being a scrappy Silicon Valley tech startup to being a way of life for millions of people in cities around the world. This “Uber” way of life is really a reflection of our mission to turn ground transportation into a seamless service and to enable a transportation alternative in cities that makes car ownership a thing of the past.
News of the round also comes just a few days after the company announced that it was testing a water taxi service in the Boston Harbor dubbed UberBOAT.
