Uber snags $1.2 bln in new funding at $18 bln valuation

SAN FRANCISCO, June 6 Fri Jun 6, 2014 1:24pm EDT

SAN FRANCISCO, June 6 (Reuters) - Uber Inc has raised $1.2 billion in funding from mutual funds and investors, valuing the fast-growing rides-on-demand startup at $18.2 billion, the company said on Friday.

Fidelity Investments put in about $425 million, Wellington Management $209 million and BlackRock contributed $175 million, the Wall Street Journal cited a person familiar with the matter as saying.

Venture firms Summit Partners, Kleiner Perkins Caufield & Byers, Google Ventures and Menlo Ventures also participated in the round, the Journal reported. (Reporting by San Francisco newsroom; Editing by David Gregorio)

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