Saudi Arabia's Public Investment Fund has invested $3.5 billion in Uber taxi services. The company said the money would help the ride-hailing taxi services expand aggressively in the Middle east, where 80% of Uber users in Saudi Arabia are women. According to BBC, Uber's new funding has skyrocketed its value to $62.5 billion. One of the fund's managing directors, Yasir al-Rumayyan would be one of its board members.
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