THE NEWS WRAP: Uber raises another $US1.2 billion at $US40 billion valuation

Uber has raised a further $US1.2 billion ($1.43 billion) in a new funding round, with the controversial ride-sharing service refusing to name investors.

 

According to Re/Code, the latest funding round values the company at $US40 billion, with the funds earmarked towards investments in the Asia-Pacific region.

 

In a blog post, chief executive Travis Kalanick said the startup also needed to invest in “internal growth and change” following recent controversies.

 

Xiaomi’s Lei Jun named entrepreneur of the year

 

The founder of Chinese smartphone maker Xiaomi, Lei Jun, has been named by Forbes as its Businessman of the Year for Asia.

 

While the four-year-old device maker is yet to expand into Western markets, it already outsells both Samsung and Apple in China, with total sales projected at 60 million units this year.

 

The publication also estimates Lei’s wealth at $US9.9 billion, making him the eighth-richest man in China.

 

Docker signs IBM as a distributor as it launches its first commercial products

 

Containerisation startup Docker has taken another step forward, launching its first commercial products, along with an agreement that will see IT giant IBM distribute its products.

 

TechCrunch reports Docker has released a new enterprise product called Docker Hub Enterprise, which can run on a company network behind a firewall, along with new tools called Docker Machine, Docker Swarm and Docker Composer.

 

The latest news comes after Docker was attacked by CoreOS, which says it’s planning to release a rival open source product.

 

Overnight

 

The Dow Jones Industrial Average is down 34.76 points, or 0.19%, to 17877.9 points. The Aussie dollar is down to US83.9 cents.

 

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