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Taxi drivers protest against transportation network companies such as Uber and Lyft outside the State Capitol in Sacramento, Calif., on June 25, 2014. Uber’s car-sharing app service has just raised $1.2-billion (U.S.) in a financing.
Taxi drivers protest against transportation network companies such as Uber and Lyft outside the State Capitol in Sacramento, Calif., on June 25, 2014. Uber’s car-sharing app service has just raised $1.2-billion (U.S.) in a financing.
(MAX WHITTAKER/REUTERS)

Why investors may not want to hitch a ride with BlaBlaCar

Nothing gets a capitalist heart beating faster than the thought of cashing in on socialism – at least, when socialism takes the form of the new “sharing” economy.

The latest beneficiary of the sudden passion for sharing goods and services among complete strangers is the wonderfully named BlaBlaCar, a French Web app that connects travellers looking for cheap transportation with drivers who have empty seats. It raised $100-million (U.S.) from venture investors on Wednesday, a huge amount for what amounts to an automated hitchhiking service.