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The Boston Globe

Business

Car service Uber raises $1.2 billion

Three Boston investment firms have just helped make Uber Technologies Inc., the four-year-old company that uses a smartphone app to hire private drivers, one of the most valuable tech startups in world.

In an investment led by Fidelity Investments that included Wellington Management Co., private equity firm Summit Partners, and a handful of other prominent investment firms, Uber received a $1.2 billion infusion of cash that values the company at $17 billion.

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