Uber Receives $1.2B in Funding, Valuing Company at $18.2B

On-demand car service Uber has lined up $1.2 billion in funding, the Wall Street Journal reported Friday. The latest round puts the valuation of the upstart at $18.2 billion.

The funding was led by three mutual-fund managers: Fidelity Investments ($425 million), Wellington Management ($209 million), and BlackRock (NYSE: BLK) ($175 million).

In total, the company has raised more than $1.5 billion since 2009.

The valuation of the company has now quadrupled in less than a year, the Journal notes.

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