China: Baidu to invest nearly USD 600 million in Uber

Thursday 18 December 2014 13:02 CET | News

Baidu, a Chinese search engine, is willing to invest around USD 600 million (EUR 482 million) in US taxi app Uber, reports.

Uber is also to get access to Baidus online resources which will help it build a bigger market in mainland China. Uber has already been available in Chinas commercial hub, Shanghai, since August 2013 and has since expanded into Beijing, Tianjin and other cities and regions.

Nevertheless, Uber has stopped operating in New Delhi, India after a woman said she was raped by one of its drivers. It has also drawn criticism from established taxi businesses in many of the 50 countries where it is active. It has been ruled illegal in some jurisdictions over concerns it could distort competition on the ground, neglect privacy concerns and passenger transportation standards.

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Keywords: China, Uber, Baidu, partnership, taxi, app, Android, users, Customers
Categories: Payments & Commerce
Countries: World
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