Uber gets $3.5 billion from Saudi Arabia

The deal marks the company’s biggest cash influx from any single investor. The money comes from the country’s Public Investment Fund. This won’t change Uber’s $62.5 billion valuation, making it the most valuable startup in the world. Uber also added a new board member: Public Investment Fund managing director Yasir Al Rumayyan. Uber has been operating in Saudi Arabia since 2014, where 80 percent of its customers are women since women are not allowed to drive themselves.