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 …

COMMENTS

House rules Send corrections

This topic is closed for new posts.

Wednesday 1st May 2013 17:14 GMT Gordon 10

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.

2 1
1. Wednesday 1st May 2013 18:59 GMT Tom Maddox
  
  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.
  
  2 1
Friday 3rd May 2013 00:23 GMT Paul J Turner

hasn't spoken to a single investor

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

0 0