Uber To Bet Big On India With A Billion Dollar Investment

The cab company is targeting around 1 million daily rides.


Uber seems to be on a roll. First it closed a deal with Microsoft for mapping solutions. Then, it implemented cash payment option in five Indian cities — Ahmedabad, Chandigarh, Jaipur and Kochi. Now, in a quest for expansion, the company is planning to invest a whopping 1 Billion USD in India.

The report comes from Financial Times, which claims that Uber is targeting 1 million rides per day by March 2016. That's a big number considering that Uber clocks in about 200,000 rides a day in India according to the industry sources. Needless to say, easiest way of getting more customers is by start operating in more cities. Since it is active in only 18 cities of India at this point, there's a lot of scope for growth.

The other, obvious way of attracting customers is discounts and offers. Since Uber would want to come on top of Ola and other cab services, users like us can expect better better deals.

if you have been living under the rocks for months, Uber is an app based cab service. The app uses phone's GPS for sharing your location with a cabbie for pick-up. Yes, no more explaining those roads to drivers. In fact, you can even track the cab on your smartphone.

TAGS: Apps, Internet