Uber China operates the U.S. ride-hailing app's China unit, running services in 22 Chinese cities. The unit competes fiercely with Didi Kuaidi and the two firms have spent heavily on ride subsidies to gain market share. Uber China is not profitable in any Chinese city and relies on heavy spending to grow its user base. Leadership says the company aims to beat Didi by spending subsidies more efficiently and plans to reinvest profits from other Uber markets into China. Management also warned that the high-subsidy fundraising environment will calm and that continued subsidy spending cannot continue indefinitely. The unit's financial position reflects large fundraising and subsidy-driven growth rather than local profitability.

Total raised

$1.2B

Funding rounds

1

Latest round

Series B

Latest activity

Jan 2016