(NZHERALD) — Microsoft has agreed to invest about US$100 million ($152 million) in Uber Technologies at a valuation of around US$50 billion, a source says.
The deal was finalised last week, the source said.
Uber, which was previously valued at US$40 billion when it raised financing earlier this year, is benefiting from investors who view its car-booking technology as the future of transport.
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The San Francisco-based company, led by chief executive Travis Kalanick, is using the cash to expand operations to cities around the world.