Business: Uber Expands to China

Uber is becoming one of the most popular modes of transportation around the world. Travis Kalanick founded Uber in 2009 with the belief that every problem has a solution; you just have to be creative enough to find it. Since its founding in San Francisco, Uber has expanded to 60 countries. Uber has recently become available in China in about 20 cities across the country, including Beijing, Shanghai, and Chengdu. Kalanick explained Uber’s Chinese expansion to investors earlier this week: “To put it frankly, China represents one of the largest untapped opportunities for Uber, potentially larger than the US.” In June, Chinese operations had grown quickly enough to provide almost 1 million rides daily in the country. This is a milestone that Uber only reached last year for its global operations. The Chinese government is set to make national regulations for the ride sharing industry later this year. Uber’s rapid growth in threatening Didi Kuaidi Joint Co, a recently created company born out of a merger between China’s two biggest ride apps.  According to The Wall Street Journal, Didi Kuaidi Joint Co. has quietly made an investment in Lyft, Uber’s biggest stateside competitor.

Contributor: Susan Packer

[fblike][pinit][gplus]

 

Comment (1)

  1. Merry     September 10, 2015 at 11:28pm

    While share riding and other services like airbnb are still relatively new, they’re very appealing to many citizens worldwide. China is an incredibly large market and its citizens can certainly benefit from services like Uber, especially in its most populated cities, which are some of the largest in the world. I’ve only ever been to a China in which transportation was mostly by car, taxi, or bus, but knowing that I may have this option now the next time I go is definitely convenient!

Write a Comment