Uber raises $1.2b

Uber Technologies Inc. raised $1.2b in a new financing led by Fidelity Investments. The funding puts the Company at a pre-money valuation of ~$17b, up from $3.5b in a financing last year. Other investors in the new round include Wellington Management, Summit Partners, BlackRock Inc., Kleiner Perkins Caufield & Byers, and existing investors such as Google Ventures and Menlo Ventures.