Uber plans $1 billion to invest into India, tastes 1 million daily rides [ Current Affairs ]
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:
- Uber Technologies Inc. is planned to invest 1 billion dollars in India.
- Uber announced that it will provide 1 million daily rides by March 2016.
- On the Indian market, this company is getting 40 percent monthly growth.
- This company will expand service in the 18 cities of India which is larger than any country outside of the United States.
- 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