German Media Giant Axel Springer Invests in Uber
The investment was a purely financial decision, according to a report.
Uber has a new, less conventional investor from the media world.
Axel Springer, the Germany-based media company that owns Business Insider and Bild, has bought into ride-sharing tech giant Uber, according to TechCrunch. It's unclear how much the company invested in Uber, but it was apparently done for financial reasons, and with no other intent, according to t3n.de. It's unclear when exactly the investment was made.
“Uber is committed to providing reliable and accessible transportation that improves European cities by cutting congestion, pollution and parking,” an Uber spokesperson said, according to The Verge. “The investment by renowned digital publisher, Axel Springer, is another example of a leading German company that shares this same vision.”
Axel Springer has previously invested in tech firms. In 2012, the media company used a similarly-sized investment to buy into AirBnB. According to The Wall Street Journal, Axel Springer has made investments in 100 different companies.