Is TPG Cheating On Uber? - Dealbreaker

Is TPG Cheating On Uber?

Oh no TPG did'n!
Author:
Updated:
Original:

Getty Images

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]

Related

Bono To Help TPG Find What They're Looking For

His investment taste is getting better, and they feel the same.

KalanicksArk

Travis Kalanick Is No Longer The CEO Of Uber Because He Owed Way Too Many People Too Much Money

You heard it here first: Travis' replacement should come from Wall Street, not Sand Hill Road.

Uber Will Keep Raising Capital Until There Is No More Private Money Left

The Ayn Rand themed car service is now making a habit out of "Billion dollar rounds."

TPG Bought A Circus For China

Congratulations China, hope you like creepy clown contortionists.

California Labor Commission Smacks Uber Right On Its Fountainhead

For the "1099 economy," people remain the unsolvable element.

Uber's Summer of Love Is Still Going Not So Strong

Uber's been causing trouble all around the world, but now it's getting hit right in its own backyard.