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Is TPG Cheating On Uber?

Oh no TPG did'n!

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TPG Growth was an early admirer of Uber's. They went on a few dates, got to know each other andjust started to have feelings. Then, on one special day, TPG did what companies in love do and helped Uber raise a $258 million Series C funding round.

Things seemed so right.

But lately, Uber has been wondering why TPG is staying so late at the office, and whileTPG's collar smells like ridesharing, it's not the kind of ridesharing that Uber wears.

Uber investor TPG Capital is putting big money behind another car-sharing service, The Post has learned.
The private-equity powerhouse on Tuesday is set to announce a new investment in Ride, a car-pooling service that promises to “reinvent your commute.”

Oh man. Turns out TPG is like the Don Draper of VCs, but instead of brunettes with beauty marks, TPG can't resist the allure of ridesharing startups.

But hey, it's not like TPG ever said this was exclusive.

The private-equity firm is in the process of raising a $3 billion growth fund and this is one of its biggest investments, a source said.

So, we've learned once again that there is not true love in the world of venture capital. The best happy ending we can hope for is that this end of the affair doesn't devolve into fish-based threats of violence.

TPG adds fuel to new car-pool app Ride [NY Post]


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