advertisement
advertisement
advertisement
  • 06.01.16

Uber gets $3.5 billion from Saudi Arabia

On-call cab app Uber is deepening its partnership with Saudi Arabia thanks to a recent investment. The company has raised a whopping $3.5 billion from Saudi Arabia’s Public Investment Fund, according to the New York Times.

Uber first launched in Riyadh in 2014 and since has provided major support to a traditionally immobile population in the region—women. Women in Saudi Arabia aren’t allowed to drive, which means they’re forced to rely on private drivers to get around. As Fast Company reported last year, Uber’s launch in the region was huge in helping women find affordable rides.  

Uber’s increased presence in the country could help Saudi Arabia reach a very important goal. As a part of its Vision 2030 plan, the region hopes to grow the number of women in its workforce over the next 14 years to 30%. As Uber expands service in Saudi Arabia, more women might be able to make it to the office. RR