Uber Technologies To Expand To 100 Chinese Cities- Doubles Goal In Three Months Time

Uber Technologies is all set make another expansion in the coming days by entering another 100 cities in China in the coming year. The new announcement on Tuesday, is a clear indication of the fact that the company is doubling their previous goal they had s et three months ago, said Travis Kalanick, the Chief Executive of the U.S. ride-hailing service.

Uber Technologies to expand to 100 Chinese citiesUber claims 30-35 percent market share

According to the reports, presently China unit of the company, which functions in around 20 cities has raised $1.2 billion in the current fund-raising while Didi Kuaidi, the local rival of the company grossed $3 billion. Both the companies are giving tough competition to increase their hold in the market and Uber, which is new entrant in the field already has 30% to 35% of the market share.

During his speech, Kalanick even said that Uber has also adopted the new set of regulations that governs ride-hailing service in the country. Kalanick even highlighted the benefits of the relation between Chinese Internet search leader Baidu and Uber.

During his speech, Kalanick also focused on how their expansion to new Chinese cities can increase job scope or help in building better infrastructure and check pollution or congestion in the roads, which the government always aims at.… Read the rest

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