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Ride-sharing firm Uber's valuation soars to $18.2 billion
Ride-sharing firm Uber's valuation soars to $18.2 billion

Ride-sharing company Uber said it has raised $1.2 billion in its latest round of funding, driving the company's value to $18.2 billion — among the highest ever for a venture-backed start-up. The San Francisco company said on its website that it expects to raise an additional $200 million once it closes a pending deal with a second group of strategic investors. It did not name the investors. The funding catapults the firm into the ranks of the hot, high-tech companies that have attracted Wall Street speculation and money. Facebook Inc. is believed to be the only start-up that gained a higher valuation — as much as $50 billion — in funding rounds before it went public in 2012. Earlier...

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