Cashing out in Uber’s IPO: China, Russia and the Middle East GlobeInvestor
In 2015, Uber Technologies Inc went on a fundraising spree in China, tapping venture capitalists and state-backed corporations for cash and connections to try and navigate the Chinese regulatory environment.
The ride-hailing company’s aggressive pursuit of capital and international presence from early on gave executives greater access to foreign investors compared to other U.S. startups. Uber was also seeking cash at a time of frenzied growth, with global investment into U.S. startups jumping 50 percent from 2013 to 2014, according to PitchBook Inc data.
But replicating its feat today would be an improbable task in the current regulatory climate, analysts and legal experts say. “What happened in 2015, you certainly could not do that again,” said an attorney who advises clients on CFIUS cases and who spoke on condition of anonymity because of the sensitivity of the matter.
“The Uber product is its users,” said the CFIUS attorney. “So when you look at it from that way you can see why CFIUS would be interested in it.”
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