Uber plans $1 billion to invest into India, tastes 1 million daily rides [ Current Affairs ]

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About Uber: Uber Technologies is an American international transportation network company. It’s headquarter is in San Francisco, California of United States. The company’s main focus is to provide transportation to people over a city by using its online service.

  • The person can use its mobile application for book a ride on Uber.
  • This service was available in 58 countries and 300 cities worldwide by 28 May 2015.
  • The founders of Uber are Travis Kalanick and Garrett Camp. It was found in 2009 as “Uber Cab”.

Investment in India:

  1. Uber Technologies Inc. is planned to invest 1 billion dollars in India.
  2. Uber announced that it will provide 1 million daily rides by March 2016.
  3. On the Indian market, this company is getting 40 percent monthly growth.
  4. This company will expand service in the 18 cities of India which is larger than any country outside of the United States.
  5. This company also commits to invest further 1 billion dollars in India in next six to nine months.

Benefit in India by this investment:

  • The investment will provide 200,000 more jobs.
  • Uber launched its own auto hiring subsidiary to sign up more drivers; it inserts the fast-growing ride services company directly into the financial services sector for the first time.

- Published on: August 3, 2015