Uber which is a mobile app cab company is going to invest in India about $1 billion to expand business and increase reach. Here is a statement issued by the company on Amit Jain's behalf who is President, Uber India.
"Uber has grown exponentially in India, a global priority market for us, which has also quickly become the largest market geographically for Uber outside the US. We are continuing to see robust 40% growth MoM and with more investment in product, hiring, and payment solutions, we expect to grow at an even faster rate. With this investment and the strong rate of growth we are seeing, we expect to hit over 1 million trips per day in the next six to nine months.
We are extremely bullish on the Indian market and see tremendous potential here. India is one of Uber's big priorities, along with China and uberPOOL. All three have the ability to significantly improve people’s lives, as well as build a great business. This is why Uber is committing an additional $1 billion to India in the next nine months so we can expand and improve our operations, expand into newer cities, develop new products as well as payment solutions, and establish a great support network. With this investment and the strong rate of growth we are seeing, we expect to hit over 1 million trips per day in the next six to nine months."
In October 2013, Uber launched in Bangalore, our first city in India, to provide access to a reliable and convenient way to get around India’s Silicon Valley. Over the past 20 months, we’ve created an increasingly affordable way to move around India by expanding to 18 cities and launching bespoke solutions like uberGO, uberAUTO and cash payments for the Indian market. We’ve also established a new way for tens of thousands of Indians to be their own boss and earn income on their own flexible schedule, as a new breed of driver entrepreneurs.
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