Microsoft Invests in Uber; The Company Values at $51 Billion

Uber Technologies Inc has recently raised an investment that values the online taxi-hailing company at nearly $51 billion.

It has closed about $1 billion from investors including Microsoft Corp and the Indian media conglomerate Bennett Coleman & Co’s Times Internet. The latest round brings the company’s total funding to $5 billion.

Kristin Carvell, a spokesperson of Uber stated, “We filed to authorize this new funding more than two months ago.” Adding more, she said, “We aren’t commenting on additional speculation.”

Uber  in March maintained that Times Internet would invest “well under” $16 million as part of a “strategic partnership”.

The company now has confirmed that it would be investing $1 billion in India over the next nine months, as the country serves as the company’s biggest market outside the United States.

Uber, which already has investors such as Google Inc and Alibaba Group Holding Ltd, including Microsoft now, operates in 57 countries, reports Reuters .