Uber CEO Kalanick Denies Pitching Investors For Funding At A $1B Valuation
Uber CEO Travis Kalanick said that he hasn’t spoken to investors in a year and half about raising capital, denying reports that the company is raising funding at a $1 billion valuation. Reuters reported that story earlier today, citing one source. We had heard similar rumors over the past few weeks but they weren’t substantiated enough to report. That said, just because Kalanick isn’t speaking to investors about raising money, that doesn’t mean that VCs or private equity firms aren’t courting him to take their money. The company, which pioneered on-demand taxi and black cab rides directly from your mobile phone, has raised nearly $50 million to date. The most recent $37 million round was led by Menlo Ventures, which aggressively outbid other competitors on valuation to win the deal. Bill Gurley, a general partner at Benchmark Capital, which came in on Uber’s Series A round, said the company is growing faster than eBay. Uber now lists about 30 different geographic locations around ...
Woody Guthrie legacy on display at new Oklahoma museum
TULSA, Oklahoma (Reuters) - There was no doubt in Nora Guthrie's mind where the final repository of her famous musician father's legacy would be.
Found 3 weeks ago on channel Reuters
Graduate schools stung by drop in Chinese applications
(Reuters) - Slowing graduate-school enrollments, including a 5 percent decline in applications from China for fall 2013, are hurting the revenues of many U.S. universities, Moody's Investors Service...
Found 4 weeks ago on channel Reuters
Huawei & ZTE Under Scrutiny Again, This Time By The European Commission For Unfair Competition
Another round of headaches for Chinese telecom equipment makers Huawei and ZTE--after previously facing scrutiny over security concerns in the U.S., the two companies are now being targeted by the European Commission. The European Union's executive body is seeking to investigate Huawei and ZTE for undercutting European firms by receiving state subsidies, and wants the backing of EU states to move ahead even without a complaint from domestic manufacturers, according to sources cited in a Reuters report.
Chinese mother loses compensation bid over labor for rape protest
BEIJING (Reuters) - A Chinese court dismissed on Friday a compensation claim by a mother sent to a labor camp after she demanded justice for her daughter who had been raped, in a high-profile case...
Found 1 month ago on channel Reuters