Über raises fresh funds and is valued close to $40bn

Uber is fast becoming one of those go-to case studies in creative destruction digital style. They don't own any cars merely provide an app bringing drivers and passengers together. Yet after the latest round of fund-raising, they are valued at close to $40bn or three times the market capitalisation of Marks and Spencer. Decide for yourself whether these valuations are simply the product of speculative excess or whether apps such as Uber really are game changers in the often monopolistic taxi service industries of modern cities.

Read: http://www.bbc.co.uk/news/business-30338889