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Uber to open in seven more Indian cities

  • Author:naky
  • Source:www.diecastingpartsupplier.com
  • Release on:2015-07-15
Uber is set to launch operations in another seven Indian cities.

The move marks the biggest simultaneous expansion outside the US in the ride-sharing group’s history and underlining its attempts to keep pace with cut-price local rival Ola.

The new push comes amid a period of rapid investment for the San Francisco based company, and confirms India as its largest market by number of cities served outside the US — bringing the total to 18.

Uber is midway through a $1.5bn equity funding round at a valuation of about $50bn, which it plans to use to pour resources into India and China.

The Indian expansion follows an email to investors from Uber chief executive Travis Kalanick last month, which showed that it planned to spend $1bn to set up operations in dozens of locations in China this year.

Uber’s push in India marks the start of a similar growth spurt, as it moves beyond larger urban centres and begins to tap more so-called tier-two cities during the second half of this year.