A peer-to-peer ridesharing, taxi cab, food delivery, bicycle-sharing, and transportation network company Uber has stretched its partnership with automobile giant Toyota and raised $500 million from the Japanese automaker, seemingly valuing the SoftBank-backed ride-hailing start-up at $72 billion.
Toyota Sienna minivans will be equipped with Uber’s self-driving technology and directed on Uber’s networks from year 2021.
Nevertheless, the minivans will be maintained and functioned by a third party in the new business model for Uber.
Uber has been prominent in the sharing economy, so much so that the changes in industries as a result of it have been referred to as Uberisation.
