Uber Technologies, the app-based ride-sharing service, may be tapping debt markets in an effort to raise as much as $2 billion, The Wall Street Journal reported. According to the Journal's sources, Uber hired Morgan Stanley and Barclays to sell a leveraged loan between $1 billion and $2 billion to institutional investors. News of the possible deal comes almost two weeks after Uber raised $3.5 billion from Saudi Arabia's Public Investment Fund, which caused many on Twitter to speculate about Uber's rapid financing and high valuation..
If I was Uber's mom, I'd be pretty certain that Uber has a drug problem. https://t.co/vDBkYhQhwG¿ Thornton McEnery (@ThorntonMcEnery) June 14, 2016
So we've gone from venture, to preferred, and now to classic debt. Uber is devouring capital. https://t.co/iAvw82VWRl¿ George Pearkes (@georgepearkes) June 14, 2016
The U.S. Court of Appeals for the District of Columbia Circuit ruled Tuesday that high-speed Internet is a utility and should therefore be held to similar regulatory scrutiny as other utlities. The decision marked a win for net-neutrality advocates who believe Internet service providers should not be allowed to increase speeds on websites that agree to pay the providers fees.
It's a prettay, prettay, prettay good day for fans of Curb Your Enthusiasm. HBO, which is owned by Time Warner (TWX), announced that the popular sitcom starring Seinfed co-creator Larry David, will be back for a ninth season. It's been five years since fans of the show were treated to David's antics.
--Written by Carleton English