Uber is raising the saddest $10 billion in funding ever

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UPDATE: Nov. 13, 2017, 12:59 p.m. EST Updated with a statement from SoftBank.

Uber is still a shiny unicorn per Silicon Valley standards, but the ride-hailing giant is nowhere near as magical as it used to be.

The latest development in a series of unfortunate events: Uber signed off on a new funding round that could total up to $10 billion. That cash infusion, led by Japan’s SoftBank Group and U.S. investment group Dragoneer, would be classified as a war chest to nearly every other company in the world. But to Uber, it’s a sad development in a long wave of painful setbacks. 

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