June 6, 2014 9:18 PM

Value of ridesharing service Uber soars

The San Francisco company said it has raised $1.2 billion in funding, pushing the value of the startup to a whopping $18.2 billion, the largest valuation ever for a venture-backed company. Kansas City is one of Uber’s new cities, though Uber hasn’t started regular operations here. Uber has been talking with the city about what it needs to do to operate legally.

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