It seems that Travis Kalancik has really been busy. His uber-fast growing transportation app has raised $258 million from private equity giant TPG and Google Ventures. According to a Delaware filing the valuation for the San Francisco company is $3.5 billion.

The company plans to use the funding to move into new markets and begin marketing efforts, as well as to fight off protectionist, anti-competitive efforts, Kalanick wrote. And while the money will surely help, the backing from the new investors and board members should be equally as important.

Travis goes on to say:


On one end we have Google, a technology powerhouse, with billions of users on an incredibly complementary product suite ranging from Google Maps to Android to self-driving vehicles. We look to Google and Google Ventures for the strategic connectivity to their product initiatives alongside the expertise that comes with evangelizing new technology with governments and regulatory bodies around the world. David Drummond is our director from Google that will help us navigate the company and provide the strategic advice as our regulatory efforts follow Uber’s launches across Europe and Asia.

There is clearly some thought behind who the investors are – and what they can bring to the table to help Uber achieve their incredibly broad dreams. TPG is an increasingly active private equity company that complements what Google brings to the table:


With TPG, we have partnered up with one of the most prolific private equity firms in the world. Why does that matter? How are they different than any of the traditional venture capital firms? It’s really simple: TPG owns and operates companies. The Uber deal is obviously very different, but their deep rolodex of operations executives and their regulatory know-how in highly regulated, “atoms”-based industries in the farthest corners of the globe is where TPG shines. David Bonderman’s vision and relationships will be invaluable to Uber as we become a global brand.

What is worth remembering though is that before this deal was announced, Uber had been doing the rounds with all the major VC firms in the world, and hadn’t been feeling the love. Kalanick had been trying to raise for over a year and just about every investor he talked to thought it was overpriced.

Turns out there were at least who didn’t. Done in style, as is Kalanick’s trademark.

Uber Technologies