Uber May Have to Settle for Being Number 2 in China

Uber May Have to Settle for Being Number 2 in China
Jan 14, 2016 By eChinacities.com

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.

Source: inews.qq.com

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Keywords: Didi Kuaiche Uber Uber China

4 Comments

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1

arti123
comment|68217|1578305

it defenitely will be popular among foreigners, but i am not sure about chinese

Jan 15, 2016 17:27 Report Abuse

2

arti123
comment|68216|1578305

it defenitely will be popular among foreigners, but i am not sure about chinese

Jan 15, 2016 17:26 Report Abuse

3

Guest593844
comment|68197|65982

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

4

Guest388182
comment|68166|43131

"issues" with the "government"?: No way!

Jan 15, 2016 08:05 Report Abuse