Uber Expected To Roll Out A Huge Expansion In China

Uber's CEO Travis Kalanick released a statement on Tuesday claiming that his company will be functional in more than 100 new cities of China within a year, twice as many as estimated in the past.

The prediction comes to be quite successful as the world's most valuable startup of more than $50 billion sticks it eyes to Asia, mostly China & India, as reported by Business Times. The US-based transportation app has faced a strong competition from the home designed outfits in both countries and, therefore, is focusing on outnumbering them.

"What we've seen here in China is growth that far outpaces anything we've seen before," Kalanick said at Beijing event hosted by Chinese tech firm Baidu.

At the beginning of the year 2015, Uber managed to score only 1% market shares in China which have surprisingly risen to 35% now.

Working for Uber in both these countries has not been easy throughout and the team is working hard to become the dominant player in the market before the local rivals take its place.

For Uber, a lot has been going well since its announcement of the expansion in China. The company in September released that it has raised $1.2 Billion for its standalone Chinese unit. People interested in fundraising say the investors including Baidu Inc. and China Life Insurance Co. avoided commenting on Uber China's fundraising plans.

Uber is seriously looking to hire entrepreneurial staff to drive its expansion in China said Wang, the Shanghai's executive of Uber. Almost 100% of Uber's employees in Chinese locals which greatly help the company understand the Chinese market and help them come up with products suitable for cities they work and live in, she said, reports Bloomberg Business.

In addition to a referral program which rewards the existing employees on every successful recommendation, Uber China is reaching out to universities and business schools in the country to hunt for local talent. It's also using Social Media to advertise openings, said Wang.

Meanwhile on the other news, Uber is expanding the options of cash payments to another market in South East Asia, testing cash payments in Indonesia. Uber now officially accepts cash payments in six countries throughout the whole world, three of which are the South East Asian countries according to Tech Crunch.

The Bundung roll out is a vital one for the next few weeks as the customers will be pleased to see cash as a payment option. The team is still testing it via different users and preferences.