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Uber Raises $3.5 Billion From Saudi Arabia (fortune.com)
An anonymous reader writes: Ride-hailing giant Uber announced Wednesday that it had closed $3.5 billion in new funding from Saudi Arabia's Public Investment Fund in an effort to shift the country's reliance on oil revenue. Also part of the deal, Public Investment Fund managing director Yasir Al Rumayyan will join Uber's board. The funding will not affect Uber's valuation of $62.5 billion. The company has said in the past that it plans to invest $250 million in the Middle East, where it currently operates in 15 cities across nine countries. Last week, Uber formed a "strategic partnership" with Toyota to provide its drivers with more affordable car purchase and lease terms.
They're trying to squeeze small US and Canadian producers out of business as well as hit Russia.
They are actually trying to squeeze Daesh,
They're mostly trying to squeeze their mortal enemy Iran
Interesting that these three Slashdot foreign policy experts all disagree on the Saudis' motives. It's almost as if they have no fucking idea what they're talking about.
I've learned that they're worthless, so I don't read AC comments anymore.