Who would've though that an app that flags down roving towncars would blow up as dramatically as it has? Apparently every venture capitalist worth their salt. Uber revealed earlier this afternoon that it just raised a staggering $1.2 billion in funding from a slew of investors, but the more interesting news didn't appear on the company's blog - instead, the Wall Street Journal reported that the Uber would cut its prices by at least 20 percent in certain markets. That means cheaper rides for you, more competition for traditional cabs, and a path to new heights for an already insanely buzzy startup.
