Uber is only likely to become the second largest company in its field within China. The U.S. based company has a strong technology platform and global experience, but has had a number of issues in China with financing, operations, and the Chinese government, according to insiders.
Last year, Uber China was losing millions of Yuan daily. In five months of 2015, the company lost nearly $600 million. In 2015, Didi Kuaiche had five to six times more customers than Uber.
Uber’s development strategy for the Chinese market is extremely important. China is a huge market, and even the second largest company in a certain field can reap enormous profits. There are more than double the amount of potential passengers in China then there are citizens in the United States. Uber has stated that they plan to expand to more cities in China.
Uber employs approximately 6,000 people worldwide, not including drivers.
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Keywords: Didi Kuaiche Uber Uber China
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Uber won't outdo Didi Kuaiche in China, but Uber will outdo Didi Kuaiche in every other country on the planet. That's why Uber has a $70 billion valuation, while Didi Kuaiche has a $15 billion valuation. If the CCP allows for a fair playing field, then Uber may not have to settle for second.
Jan 15, 2016 13:24 Report Abuse