Uber plans to spend nearly $1 for every citizen in India, quite literally, with a plan to infuse $1 billion into a market that has a 1.2 billion population. Uber announced the plan to expand its taxi operations within India to bring 1 million rides per day by 2016.
Current estimates by the Financial Times puts current figures at 200,000 rides per day. The new billion dollar funding will likely be used to entice drivers and riders to its service.
Uber’s only other competition within India is Ola, who raised $400 million on its own. The expansion in India coincides with Uber’s other $1 billion investment in China.
There has been a bit of controversy [...]