China’s Baidu invests in USA’s taxi app Uber
18 Dec 2014 12:39 AM GMT
Baidu will also link users of its mapping and search functions with Uber drivers, the two companies announced at a ceremony in Beijing. The investment has previously been reported to be as much as $600 million, according to state-run China National Radio.
“Our efforts here in China are unique and will continue to be, let’s call it, more unique than anywhere else,” Uber’s CEO Travis Kalanick said at a press conference after the signing ceremony.
“You have to do things differently here in China,” he said, without elaborating.
Uber, which connects riders and local drivers, currently operates in nine cities across China, including the capital Beijing and financial hub Shanghai.
But its presence is dwarfed by China’s two dominant taxi-hailing apps — Kuaidi Dache, in which e-commerce behemoth Alibaba has a stake, and Didi Dache, backed by technology giant Tencent.
Kuaidi secured a 54.4 per cent share in China in the third quarter, while Didi held 44.9 per cent market share, research firm Analysys International said.
Uber is embroiled in several controversies around the world, and earlier this month complied with an order to stop operating in New Delhi after an Indian woman said she was raped by one of its drivers.
“Our efforts here in China are unique and will continue to be, let’s call it, more unique than anywhere else,” Uber’s CEO Travis Kalanick said at a press conference after the signing ceremony.
“You have to do things differently here in China,” he said, without elaborating.
Uber, which connects riders and local drivers, currently operates in nine cities across China, including the capital Beijing and financial hub Shanghai.
But its presence is dwarfed by China’s two dominant taxi-hailing apps — Kuaidi Dache, in which e-commerce behemoth Alibaba has a stake, and Didi Dache, backed by technology giant Tencent.
Kuaidi secured a 54.4 per cent share in China in the third quarter, while Didi held 44.9 per cent market share, research firm Analysys International said.
Uber is embroiled in several controversies around the world, and earlier this month complied with an order to stop operating in New Delhi after an Indian woman said she was raped by one of its drivers.
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