Home Business Billion-dollar bet boosts Uber before float | Business – The Times

Billion-dollar bet boosts Uber before float | Business – The Times

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Uber has received a boost ahead of its expected flotation next month after securing $1 billion of investment in its self-driving car unit.

The world’s biggest taxi-hailing company said that it had struck a deal with the technology fund of Softbank, the Japanese conglomerate, as well as with Toyota, the carmaker, and Denso, an auto parts supplier. Their combined investment values Uber’s self-driving unit at $7.25 billion.

Uber will use the deal to reassure investors about the money-losing division as it begins an investor roadshow. The company, based in San Francisco, is hoping to raise $10 billion at its flotation, which could be one of the largest in history, potentially valuing it at $100 billion.

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