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Uber to invest $1 billion in India to expand services

News:

  • Uber operates in 57 countries, with an estimated value of more than $40 billion. But it has tangled with transport authorities across the globe, along with attorneys seeking to deem Uber drivers as employees entitled to benefits.
  • Uber Technologies Inc [UBER.UL] will invest $1 billion in India in the next nine months, as the online taxi-hailing company looks to expand its services in its biggest market outside the United States.
  • Uber said it would use the additional investment to improve operations, expand beyond the 18 Indian cities where it now operates, and develop new products and payment solutions.

Source: CNN

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