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Uber reaches two billion rides six months once striking its initial billion

The largest portion of these rides - fifty four - happened in China, a sign of the company's growth therein country.

San Francisco: Uber has completed over two billion journeys on its app, the company's chief govt same on Mon, a milestone that arrives simply weeks once the ride service supplementary another $4.7 billion to its warchest.

Uber hit two billion rides on June eighteen, chief executive officer Travis Kalanick same during a Facebook post, six months once marking its initial billion rides. the corporate, then, completed identical variety of rides in six months because it did within the previous six years - due partly to its significant defrayal to recruit drivers and passengers, that is created potential by over $13 billion in funding from investors.

Kalanick aforesaid that 147 Uber rides started at the precise same second in sixteen countries to tie for the 2 billionth trip. the most important portion of these rides - fifty four - happened in China, a sign of the company's growth in this country, wherever Kalanick has conjointly aforesaid Uber is losing over $1 billion a year because it competes for riders.

Uber is in 450 cities globally, up from 311 a year agone. Last month it raised $3.5 billion from Saudi Arabia's sovereign wealth fund, a part of a funding spherical that valued the corporate at $62.5 billion.

Earlier this month, Uber secured a $1.15 billion leveraged loan, permitting the corporate to require advantage of traditionally low interest rates whereas keeping venture-capital backers happy by not additional diluting their equity.


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