What Uber's Massive New Investment Really Means

World domination is expensive. As Uber has pushed its ride-sharing business into 460 cities in 69 countries (and counting), the company has developed an insatiable appetite for new capital. Now, in the largest single investment ever made in a private company, Uber says it's raised another $3.5 billion from Saudi Arabia's Public Investment Fund.

In the past two years alone, Uber has raised $13.8 billion in private rounds, mostly venture capital and private equity but also convertible debt.