Uber Reaches $17 Billion Valuation in New Funding Round

Ride-hailing car service Uber has closed a $1.2 billion venture funding round, valuing the company at $17 billion. The eye-popping figure, more than quadruple Uber's worth a year ago, makes the company one of the most highly valued startups of all time. "With our growth and expansion, the company has evolved from being a scrappy…