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 …
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.
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.
hasn't spoken to a single investor
Well, no. I'd talk to more than one too.
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