Why Uber Could Be Done in China
Sovereign wealth fund money has flowed into the consumer technology sector, parking capital into media-hyped startups like Flipkart and payments company Square. These sovereign investors placed strategic bets on the largest taxi app service companies. For example, back in 2014, the Qatar Investment Authority (QIA) invested in Uber Technologies Inc. Looking east, Didi Kuaidi Joint Co., formed by the merger of two competing taxi-hailing services in China which were Didi Dache and Kuaidi Dache back in February, raised a big round of capital – some US$ 2 billion in July. Didi Kuaidi claims they have control 80% of China’s premium automobile-hailing service market.
China is of paramount importance with regard to Uber’s current valuation.
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