Uber raised $10 bln from Chinese investors before its IPO

Uber raised $10 bln from Chinese investors before its IPO

These figures show that Uber upstaged Google and Facebook

Chinese investors, among which was Hillhouse Capital Group asset management company, invested a substantial sum of money in Driver App before IPO.

The total sum of investments in this service is equal to $10 bln and it bet the previous investment record before IPO hi tech sphere. Even Google and Facebook back in the day haven’t had such a success, until they entered the open market.

The main part of capital was raised by Uber as a result of sale of bonds and shares during the last 6 month.

Company usually channels its raised funds for expensive operations solution in 300 cities around the world. Apart from that Uber needs funds for law expenses, which are connected with regulators complaints reviewing. Company's management team considers this investments to be channeled for funding of its technological innovations, including self-driving car.

Hillhouse Capital is going to invest a few hundred million dollars in Uber bonds, which can be converted in shares, by buying them at much lower price than the offer price of shares.

Uber defined Chinese market to be  the primary , and its main partners are such major companies, as Chinese Baidy search service.

Uber service yet hasn`t made any official announcement about IPO.

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