(2013-08-23) Uber Financed At3 Billion

On-demand driver app and transportation company Uber has raised a new round of financing at a $3.5 billion valuation, according new filing.

In Kalanick's mind, Uber can offer much more than rides. The CEO hinted at the company's potential in an interview with Fortune's Jessi Hempel, where he called Uber the "cross between lifestyle and logistics." Kalanick wants Uber to be an "instant gratification" service that gives people what the need, when they need it, whether that's a ride or some other delivery... Kalanick's close friend and Uber investor Shervin Pishevar explained Uber's grand vision to Inc: "Uber is building a digital mesh — a grid that goes over the cities. Once you have that grid running, in everyone's pockets, there is a lot of potential for what you can build as a platform. Uber is in the empire-building phase."

Now that it has a $250 million war chest, it likely sees an opportunity to own the market not only for black-car services, but also for ride-sharing and taxi bookings. Uber wants the whole damn lot. So what’s one way it might use its cash influx to achieve that goal? We’ve caught wind of an intriguing, and potentially game-changing, possibility. Uber could be set to buy its own fleet of cars. On the face of it, that might seem crazy, but we’ve been hearing persistent whispers that suggest that’s exactly what Uber is going to do.