Skip to main content

Uber reaches two billion rides six months once striking its initial billion

The largest portion of these rides - fifty four - happened in China, a sign of the company's growth therein country.

San Francisco: Uber has completed over two billion journeys on its app, the company's chief govt same on Mon, a milestone that arrives simply weeks once the ride service supplementary another $4.7 billion to its warchest.

Uber hit two billion rides on June eighteen, chief executive officer Travis Kalanick same during a Facebook post, six months once marking its initial billion rides. the corporate, then, completed identical variety of rides in six months because it did within the previous six years - due partly to its significant defrayal to recruit drivers and passengers, that is created potential by over $13 billion in funding from investors.

Kalanick aforesaid that 147 Uber rides started at the precise same second in sixteen countries to tie for the 2 billionth trip. the most important portion of these rides - fifty four - happened in China, a sign of the company's growth in this country, wherever Kalanick has conjointly aforesaid Uber is losing over $1 billion a year because it competes for riders.

Uber is in 450 cities globally, up from 311 a year agone. Last month it raised $3.5 billion from Saudi Arabia's sovereign wealth fund, a part of a funding spherical that valued the corporate at $62.5 billion.

Earlier this month, Uber secured a $1.15 billion leveraged loan, permitting the corporate to require advantage of traditionally low interest rates whereas keeping venture-capital backers happy by not additional diluting their equity.


Popular posts from this blog

Ramoji Rao Biography,Ramoji Group of Business,Om Spiritual City

Why It Is Not The Best Time For How To Start Biryani Centre In India

The Latest Trend In How To Start A Marble Retail Business In India