Uber valued at $40 billion, raises additional $1.2 billion
The popular ridesharing service Uber has been growing at an impressive rate. and they recently announced that it managed to raise an additional $1.2 billion via funding making total funding close to $2.7 billion and is now reported to be valued at around $40 billion. That’s quite a pot of gold the they are sitting on right there. All this will apparently be put to good news as the CEO of Uber Travis Kalanick, announced via a blog that they would be using the funds to “make substantial investments, particularly in the Asia Pacific region.”
Although a list of potential investors cannot be found, sources from TechCrunch report that Sequoia, TPG, Fidelity Investments, Wellington Management, Kleiner Perkins Caufield & Byers and Menlo Ventures are among the top inverstors.
It seems that the investment has impeccable timing for Uber. They were recently banned in Thailand and abandoned operations in Nevada following a court order. India too has put its foot down where the companies service has been subdued by the Reserve Bank of India (RBI) following its payment system. The company somewhat reluctantly decided to go with RBI’s two-factor authentication system calling it “cumbersome” and “burdensome.”
The company looks like it’s going through a rough patch. First it was Uber’s general manager Josh Mohrer illegally tracking Buzzfeed journalist Johana Bhuiyan, followed by Uber executive Emil speaking at a dinner party where he divulged that the company was involved in a smear campaign against journalists who attempt to disfigure Uber’s image.
The company hopes that can use all this experience to make Uber a smarter and more humble company with new standards in data privacy and gives more to those it serves.
Vodafone all set to boost start-ups in mobile apps in India
Vodafone, a leading telecommunication service provider will open its doors to boost start-ups who are in the mobile app development area in an attempt make it easier for young entrepreneurs to get a good start in the industry Marten Pieters, CEO of Vodafone stated that they have created a new platform for young developers and said that they would offer them the chance to hop onboard and gain access to its 75 million subscriber base in India.
As the telecom sector has contributed in a large way to India, Pieters also said that the industry had created both social and economic development in the country by offering huge employment opportunities.
Iran is developing a system to identify any Internet user
Iran has been known for using its power to restrict internet access to its people by blocking millions of sites when they have run counter to religious or political beliefs. In addition to all that; it looks like they now are on the verge of implementing a system that would identify any and all individuals who go online on any day at any given time.
Minister of telecommunications Mahmoud Vaezi was quoted stating that “In future when people want to use the Internet they will be identified, and there will be no web surfer whose identity we do not know”. No further details regarding how the system operates or when it would be launched were given.
The premise behind this idea seems to be to identify people so that they are deterred from posting and/or reading material of a controversial nature anonymously. This looks to be the initial step in a plan to introduce more filtering services to identify and block offensive content.