Axel Springer buys stake in Uber

Family-controlled German media company Axel Springer SE has bought a stake in Uber Technologies Inc.

A spokeswoman for Springer said the stake was “minimal” and was a financial rather than a strategic investment. Springer has been investing in the technology sector, MarketWatch reported. It bought a stake in Airbnb in 2012.

Springer started working on investments with U.S. venture capital and private equity firms in 2014 and, according to the spokeswoman, has made early-stage investments in about 100 companies, the article said.

Springer publishes Bild, Europe’s biggest newspaper, as well as Die Welt, a German newspaper, and several European periodicals. In 2015, Springer bought Business Insider for $343 million, the MarketWatch article said.  (Source: MarketWatch, April 19, 2017.)