Uber raises $3.5 billion from Saudi investment fund

SAN FRANCISCO (AP) — Uber said Wednesday it is getting a massive cash infusion from Saudi Arabia.
The oil-rich nation’s sovereign investment fund is putting $3.5 billion into the global transportation company, and will get a seat on Uber’s board of directors.
Funding for new tech companies has been slowing down in recent months amid concerns that many startups have been over-valued. But San Francisco-based Uber has been able to raise billions of dollars as it pursues ambitious