BlaBlaCar valued at £1.2bn

BlaBlaCar, a French online ride-sharing company which pairs people travelling between cities with drivers with empty seats in their car has been valued at £1.2bn.

Founded in 2006 by Nicolas Brusson and Frederic Mazzella a latest round of funding has valued the business at more than £1.2bn. Initially the business struggled to persuade customers or investors the idea would take off.

The company makes its money by taking a percentage of the cost of the journeys taken by its 35 million members in 22 countries.

To see the BBC’s inside story of BlaBlaCar visit http://www.bbc.co.uk/news/business-38597506