Microsoft invests $100 million in Uber

Microsoft will be heading the funding round, adding to the laundry list of Silicon Valley companies investing in Uber.

Microsoft has agreed to invest about $100 million in Uber, a person with knowledge of the matter said.

“We aren’t commenting on additional speculation”, she said. Uber is said to be investing $1 Bn in the next nine months exclusively for Indian expansion and to develop new payment solutions as well.

The latest implied valuation of the tech startup reaches the $50 billion “high-water mark”, as the financial publication termed it, set by Facebook in 2011.

Uber has grown at a tremendous rate.

Uber raised close to $1 billion in the round, bringing its total funding to more than $5 billion, WSJ reported on Friday, citing one of the people. Today it covers n eleven cities across India – Ahmedabad, Bangalore, Chandigarh, Chennai, Hyderabad, Jaipur, Kochi, Kolkata, Mumbai, New Delhi, Pune. The company’s earnings merely from its five top markets in 2013 was dollar one billion in 2013 so it’s pretty much a wise option to flow in your investments. Bloomberg had reported that Uber lost $470 million on revenues of $415 million, which a Uber spokesperson stated being outdated.

Microsoft and the investment arm of Indian media firm Bennett Coleman & Co. are among the companies that have participated the latest funding round.

There have already been collaborations between Uber and Microsoft in the past, specifically with the former’s voice-controlled Cortana system, which has been incorporated into the Uber app, allowing users to schedule vocal prompts to book in a ride. The investment by Microsoft shows the business understanding and closeness among the two companies.

MS’ Bing mapping technology goes to Uber: Towards the end of June, Microsoft had sold a part of its Bing Maps technology to Uber for an undisclosed amount. The service has disrupted established taxi and limousine companies, which have often responded with protests.