Russian tycoon Fridman’s L1 invests $200 mln in taxi service Uber

MOSCOW, Feb 12 (PRIME) -- LetterOne (L1), owned and chaired by Russian tycoon Mikhail Fridman, has invested U.S. $200 million in online taxi hailing service Uber, L1 said in a statement Friday.

The investment was strategic, L1 said.

“I’m excited by our strategic partnership with Uber. As entrepreneurs, with experience in retail, banking, telecoms and energy sectors, and knowledge of diverse developed and emerging markets, we believe that Uber’s highly talented management team possesses the necessary vision and skills to build the company into one of the world’s preeminent technology businesses,” Fridman said.

Uber’s CEO Travis Kalanick said that “L1’s knowledge of emerging markets will be crucial in helping us make cities more accessible, opening up more possibilities for riders and more opportunities for drivers.”

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