Uber has just completed another round of capital funding as it reeled in $1.2 billion. The goal of this particular round of funding is expansion into Asia.
The company’s approach to private rides from their own company and expanding into allowing anyone who is a qualified driver to get in on the action has seen Uber grow rapidly in a few years. It is because of this rapid growth and that company is looking to rake in $2 billion in revenue that many investors have confidence in Uber’s business performance.
Uber’s plans of further expansion into Asia comes with many opportunities and many headaches. While each city Uber can get in is a potential moneymaker and each major city is a gold mine, there’s regulation to worry about.
Uber CEO Travis Kalanick was extremely optimistic about the recently funding the company received and how Uber will proceed in the future. The outlook riding into 2015 and a look at 2014 are detailed in Kalanick’s statement.
This round of funding puts Uber’s value at around $40 billion. Earlier in the week the company announced expansion into Florida and European expansion.