Baidu to make a $600 million investment in Uber?

Baidu to make a $600 million investment in Uber?
According to a report published on Friday, on-line car service company Uber is about to receive a $600 million investment. The company writing the check is Chinese internet firm Baidu. The latter is supposed to announce a new partnership this coming Wednesday, and it would appear that this is what will be announced at that time.

Using the Uber app, those needing a ride can pinpoint the location where they need to be picked up from, and can select from a variety of cars and rates. Recently, Uber made a deal with Spotify that allows those using the music streaming service to hear their playlists running over the speakers of an Uber car.

Other investors in the company include Google, whose Ventures arm made a $258 million investment in Uber last year. A more recent round of funding valued the privately owned Uber at $40 billion.

source: LATimes


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