Uber is set to raise $7.9bn to $9bn if it floats within its range, while PayPal has agreed to invest another $500m through a private placement.

US-based ride hailing service Uber revealed today it plans to raise up to $9bn in its initial public offering and has secured a $500m commitment from payment technology provider PayPal. The company plans to issue 180 million shares on the New York Stock Exchange priced between $44 and $50 each, which would raise between $7.92bn…

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