TechCrunch is reporting that Google Ventures has invested $250 million into Uber. The start-up is a taxi hailing service, that allows anyone who wants to drive to use the service. New York has put up a fight about this service, however Uber has been fighting back with a lot of force and money. The company is rumored to be valued around $3.5 billion at this time, and is in 41 major cities all over the world.
Uber nor Google would reply to this rumor, but Uber did say that it did not have anything to say at this time. It’s interesting to see why Google would want to invest their money in a start-up that has a lot of legal battles before it can run in many more major cities legally. I could see Google just wanting to have a hand in the market, or maybe we’ll see Uber cars that are outfitted with Google Street View Cameras.
With the company reportedly bring in $130 million there is a good outlook for the company. With $250 million to fight New York city off, the company could win and that could start the movement of the service in other large cities. The reason many people like this service is because the drivers are nice, and the taxi’s are usually really low-cost compared to other taxi services.