Uber Takes Lead In Ridesharing Fundraising With $1.2 Billion Round

Los Angeles has been one of the hottest markets for ridesharing companies, with Uber, Sidecar, Lyft, Flywheel, TaxiMagic, and Opoli -- and probably others--all trying to take a piece of the transportation market. However, it looks like ridesharing company Uber might have just changed the equation, after announcing a $1.2 billion funding round -- with more on tap -- valuing the company at $40 billion, and adding a very, very significant warchest to the company's fight to come out as the top dog among ridesharing companies. That fundraising completely dwarfs recent funding rounds for Sidecar ($15M in September), and Flywheel ($12M in November), and is several times larger than the $250M raised by Lyft in April. More information »