Report: Google Ventures invests $250M in Uber private car service
According to a report from AllThingsD, Google’s investment arm, Google Ventures, just invested around $250 million into Uber, the private car delivery service that lets users order vehicles through mobile apps. The investment comes as Uber raises $360 million at a valuation of around $3.5B:
Though pricey, the latest scramble to be in the Uber funding round was apparently very competitive. Sources said Google won the investment because of direct intervention by CEO Larry Page, who met with Uber CEO Travis Kalanick.
While it would be a bit stretch to guess what plans Google might have for Uber down the road, there are a few Google services in development that could benefit. Some have speculated that Uber could help power a future driverless car service from Google, but perhaps more realistic for the short term would be deliveries. Since last year Google has been testing a same-day delivery service in and around San Francisco, and it reportedly planned to use driverless cars to do so.