Even as Uber’s lawyers finalized the details of the deal, they still couldn’t quite believe it would really happen. The Saudi Arabian government was set to give the San Francisco-based startup $3.5 billion, an astronomical amount. The company’s legal team had to double-check that it was even possible to send that much money in a single wire transfer. But on June 1, 2016, the Saudi Public Investment Fund sent Uber Technologies Inc. the cash in one lump sum. It was the largest single investment from a foreign government to a venture-backed startup ever—and still is.
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