The Public Investment Fund of Saudi Arabia invested $3.5 billion in Uber, the well-known US based online transportation network company.

This was the largest ever cash flow the US multinational has ever received by a single investor, the company said in a statement. The investment valued Uber at $62.5 billion, the same amount as its previous valuation, and Yasir Al Rumayyan, the managing director of Saudi Arabia’s sovereign wealth fund, will take a board seat at Silicon Valley’s most valuable...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now