Uber to enter 100 more Chinese cities
Print Edition
US ride-hailing service Uber Technologies Inc will enter 100 more Chinese cities over the next year, doubling a previous goal set just three months ago, its Chief Executive Travis Kalanick said yesterday.
Uber’s China unit now operates in about 20 cities, Kalanick said at an event in Beijing held by Uber investor Baidu Inc.
The speech comes a day after Kalanick said the China unit had raised US$1.2 billion during ongoing fundraising, while people familiar with the matter said larger local rival Didi Kuaidi had brought in US$3 billion.
The two firms are spending to subsidize rides and gain market share, betting on China’s Internet-linked transport market becoming the world’s biggest and most lucrative.
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