VENTURE CAPITAL POST

Last Friday, Uber Technologies have revealed plans of raising $1 billion from a new pool of investors which will make it the most powerful, and most valuable, privately-owned, start-up in the whole world.

U.S. mutual funds are placing bigger bets on privately held companies to get a head start finding the next IPO superstar, a strategy that has yielded some dramatic payoffs and flameouts.

China's transport ministry has banned taxi hailing apps such as Uber Technologies Inc and local rivals Kuaidi Dache and Didi Dache from using cars and drivers without taxi licenses in a bid to regulate the rapidly growing sector.

A federal judge rejected Uber Technologies Inc's bid that it not be required to disclose emails from Chief Executive Travis Kalanick in a California lawsuit accusing the popular ride-booking service of deceiving customers about how it shares tips with drivers.

South Korea has indicted the chief executive officer and local subsidiary of Uber Technologies Inc for violating a law governing public transport, becoming the latest jurisdiction to challenge the U.S. taxi service provider.

Taxi service provider Uber Technologies Inc said only some of its employees have access to "God View", or a real-time aerial view of the movement of its cars.