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back to article Taxi app Uber's $1bn uber price tag: CEO speaks out

Travis Kalanick, the chief of taxi service app Uber, has denied that his company is about to open a new funding round that would value it at over a billion dollars. Kalanick tweeted that the company hadn't spoken to a single investor about raising new cash injections since November 2011, after reports suggested that Uber was …

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FAIL

Huh?

With at least 3 apps for this purpose currently advertised on London cabs - one might suggest that the market is well on its way to being saturated and any investors have a higher than usual chance of losing their shirts.....

And what kind of crappy name is Uber? Hailo is my personal fave in the naming stakes.

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Flame

Re: Huh?

If you had RTFA, you would realize that Uber is a US-based company, where the market is decidedly unsaturated. Also, Uber is not just a cab-hailing service, it's actually a car service. The name used to be UberCab, but the company changed the name so as not to fall foul of the ridiculously stringent taxi laws in US.

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Headmaster

hasn't spoken to a single investor

Well, no. I'd talk to more than one too.

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