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16, 2014, file photo a man leaves the headquarters of Uber in San Francisco. Uber said Wednesday, June 1, 2016, that it is getting a massive cash infusion from Saudi Arabia. FILE - In this Dec. 16, 2014, file photo a man leaves the headquarters of Uber in San Francisco. Uber said Wednesday, June 1, 2016, that it is getting a massive cash infusion from Saudi Arabia. Photo: Eric Risberg, AP Uber raises $3.5 billion from Saudi investment fund 1/1 Back to Gallery 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 plans to expand around the world. Uber says its internet-based ride-hailing service now operates in nine countries of the Middle East, one of its fastest-growing markets. Eighty percent of its passengers in Saudi Arabia are women.

For the original version including any supplementary images or video, visit Uber raises $3.5 billion from Saudi investment fund - seattlepi.com

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