Uber to invest $1 billion in India to expand services

By Reuters  www.arabianbusiness.com

Uber Technologies Inc 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.

“We are extremely bullish on the Indian market and see tremendous potential here,” Amit Jain, president of Uber India said in a statement on Friday.

“Uber has grown exponentially in India.” More info

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