Alibaba, Tencent Holdings to Fund Didi Kuaidi $1 Billion

Did Kuaidi, the largest ride-hailing service in China is about to raise $1 billion the same amount that Uber spent last year for its expansion. It is going to be a tough competition for both companies since they are being backed up by other large companies such as Alibaba and Tencent Holdings Inc.

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Uber to invest $1B in India after investing another billion in China

Uber recently announced that it has allocated $1 billion to expand its operations in China. Like that is not big enough, the company will also be setting aside another $1 billion to strengthen its business in India.

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New Delhi rejects license applications of taxi firms Uber, Ola

US-based ride-sharing company Uber and its local rival Ola's licence applications has been rejected by the Delhi government, according to Reuters.

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Uber taxi driver

Uber tests cash payments for cabs in India

Uber is testing cash payments in India as the online taxi-hailing company seeks a stronger foothold in a country where many fewer people have credit cards than internet connections.

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Bhavish Aggarwal

India's Ola raises about $314 million in fresh funding: company filing

India's biggest online cab-hailing service Ola has raised about $314 million in a fresh funding round from investors led by Russian billionaire Yuri Milner's DST Global, a company filing showed.

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