Uber plans "substantial investments" in Asia/Pacific expansion following its latest round of financing,

which raised $1.2 billion for the rideshare app, according to a Thursday blog post by CEO Travis Kalanick. During the past year, Uber's network has grown to 250 cities in 50 countries, compared with 60 cities in 21 countries 12 months ago, according to Kalanick. Besides expansion, Uber also plans to use funds to "invest in internal growth and change" that "lead to a smarter and more humble company that sets new standards in data privacy, gives back more to the cities we service and defines and refines our company culture effectively," Kalanick added.