Uber receives an investment of 2000 million us dollars in China

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The field of battle chinese it is not easy for Uber, but not for taxi drivers or by the legislative pressure, but by a local competitor. Didi Kuaidi claims to be the 87,2% of the chinese market, and Uber recently reported that it had conquered the 30-35%. Obviously one of the two data is inflated, or both.

This competitor is backed by two huge tech companies, like Alibaba or Tencent. Behind Uber are placing investors very relevant, such as China Life Insurance (the biggest private insurer), Guangzhou Automobile Group, Citic Securities, etc

The latest injection of capital that has received Uber in the country is 2,000 million dollars. In his pulse against Didi Kuaidi, Uber tap in prices by subsidizing part of the route. The value of Uber at a planetary level is estimated at about 70,000 million euros, and already accounted for 1,000 million “races”. Still, Uber does not earn money in China.

Didi Kuaidi not only seeks to annoy Uber in his native country, also outside of it. This competitor has joined with other rivals of Uber, such as Lyft in the united States, GrabTaxi or Wave (India).

In other areas of the world, Uber causes a strong impact on the taxi industry if the regulation allows it. Where you have serious competitors, such as Lyft, prices tend to be adjusted more. Once you control the market, they abandon these policies of conquest, are no longer necessary.