The PJ Tatler

Uber Expanding in China with Plans to Enter 100 New Cities

Uber CEO Travis Kalanick announced today that Uber will expand into 100 more cities in China over the next year, “doubling a previous goal set just three months ago.” Kalanick’s announcement was made at an event held by Uber investor Baidu.

Currently Uber operates in 12 cities in China.

The speech comes a day after Kalanick said the China unit had raised $1.2 billion during ongoing fundraising, while people familiar with the matter told Reuters that larger local rival Didi Kuaidi had brought in $3 billion.

“When we started this year, we were about one percent market share. Today, nine months later, we’re looking at about 30 to 35 percent market share,”Kalanick said.

Uber is also expecting new regulations later this year in China that are friendly to ride-sharing services.

“Progress is something we see the government be incredibly open to, whether it be about more jobs and less pollution, less congestion on the streets, better utilization of infrastructure, that kind of progress always has to be in harmony with stability and that is one of the big things that we partnered with the government on,” Kalanick said.