Uber Technologies Inc. threw down the gauntlet in the on-demand transportation wars Friday, announcing that it had secured $1.2 billion in additional funding, which valued the 4-year-old company at $17 billion. It turned to longtime counsel Fenwick & West for legal advice on the raise, which catapulted Uber to one of the highest valuations ever reached for a venture-backed business.
“The company has evolved from being a scrappy Silicon Valley tech startup to being a way of life for millions of people in cities around the world,” cofounder and CEO Travis Kalanick wrote in a post on Uber’s corporate blog.
