Uber says lo­cal mar­ket key to its fu­ture

China Daily (Canada) - - BUSINESS -

Uber Tech­nolo­gies CEO Travis Kalan­ick said about 30 per­cent of the ride-hail­ing com­pany’s trips now take place in China, un­der­lin­ing how im­por­tant the world’s sec­ond­biggest econ­omy is to Uber’s global growth am­bi­tions. Kalan­ick told a tech con­fer­ence on Tues­day in Cal­i­for­nia that Uber’s mar­ket share in China has climbed since the start of 2015 and now stands at about 30 per­cent to 35 per­cent. by 2017, ex­perts said at an on­go­ing tourism fo­rum in South China’s Guilin City. In 2014, 1.72 mil­lion peo­ple from the Chi­nese main­land booked cruises, up 43 per­cent yearon-year and 20 per­cent­age points above the av­er­age in the Asian-Pa­cific re­gion. China is cur­rently the eighth big­gest cruise mar­ket in the world. in the su­per­car maker out­stripped the stock avail­able. Ma­jor­ity share­holder Fiat Chrysler Au­to­mo­biles NV, which is sell­ing a 9 per­cent stake in the iconic Ital­ian brand, priced 17.18 mil­lion shares at $52 each, ac­cord­ing to a state­ment on Tues­day, af­ter of­fer­ing them for $48 to $52 apiece. In­clud­ing debt Fer­rari will take on from Fiat, the com­pany will have an en­ter­prise value of about $12 bil­lion. Wed­nes­day in a state­ment. That com­pares with 57.1 mil­lion tons in the same pe­riod a year ear­lier and with a me­dian of 61.9 mil­lion tons of three an­a­lysts sur­veyed by Bloomberg.

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