Google Makes Big Investment in Luxury Cab Service Uber
Google (NASDAQ:GOOG) has reportedly made a big investment in luxury cab service Uber Technologies, according to a Delaware filing seen by AllThingsD. Private equity firm TPG Capital also bought stock in the company, bringing the San Francisco-based startup’s total value to $3.5 billion.
During the latest round of stock purchases, TPG bought 775,092 Series C-2 preferred shares at $114.03 each, an investment of close to $90 million. Current Uber investor Benchmark Capital bought 105,234 Series C-1 preferred shares at $142.54 each.
Google wasn’t named in the public document, which can be read at AllThingsD, but after TPG and Benchmark’s investments, 1.8 million C-1 shares were left. Sources who spoke to AllThingsD said that Google Ventures bought those remaining C-1 shares for a total investment of $250 million.