Uber, an international transportation network company, announced that it aims to expand into 18 new cities in China by the end of February 2016. (Photo : Reuters)
The American company Uber takes the top position in worldwide market wherever they start their business, as per English.cri.cn; however, according to sources, when the company came to the Chinese market, the hailing cab provider Uber stands up in a second lead position. The local company Didi-kuaidi leads the hailing market in China.
Uber's Chief Executive Officer (CEO) Travis Kalanick said in an interview that he has to learn innovative new ideas from Chinese competitors. The CEO is confident enough to catch up the top position in China due to the presence of a huge number of entrepreneurs. The report says Kalanik is looking forward to extending and improving their business in China.
According to Kalanick, Beijing will catch up the market and go far from Silicon Valley. As per the young CEO and co-founder of Red Swoosh, Beijing has more creative and innovative entrepreneurs than other parts of China. Kalanick also said that apart from Beijing's leading companies, there are other Chinese companies that will also catch up the global market soon.
Kalanick discussed his opinion in a Technological Forum on Innovation Festival at Green Park, Beijing. The CEO has displayed a picture of Bill Gates and the chair of Alibaba Jack Ma, along with Pony Ma, Tencent's CEO and founder.
Chinese markets are getting secured by the offers and discounts that Chinese companies provide to their citizens. In Kalanick's opinion, he has to learn how to work efficiently with innovative and unique ideas, if he wants to get the leading position in China.
On other Uber reports, Technology News China reported that Uber's CEO accused Didi Kuaidi of making a loss for the offers and discounts the company provides. According to Uber's allegation, Uber is losing almost $70-80 million every week. Didi Kuaidi refuses the allegation by saying that their subsidies are much lesser than Uber's. The company added that they only account for one-fifth or one-third of Uber's subsidies.
As of to date, the value of Uber's China unit is more than $7 billion because of a striking partnership with China's HNA Group.
