Didi Kuaidi

Uber bets on Bengaluru technology centre to drive product innovation

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Uber Technologies Inc. is striving to make its Bengaluru technology centre a hub of product innovation. The centre, launched in March, will have a team of 50-odd engineers to introduce new products around payments, vehicle intelligence and mapping, among others for India as well as global markets, a senior Uber… Read more »

An uber driver using the app
Visual from company website
Ola Cabs. Photo: Mint
Uber logo is seen on a vehicle near Union Square in San Francisco, California. Reuters.
A taxi in China. Credit:Flickr/Brian Ng
A taxi driver is reflected in a side mirror as he uses the Didi Chuxing car-hailing application in Beijing, China, September 22, 2015. REUTERS/Jason Lee
money-shoving-pixabay
from ola website
Uber. Photo: Reuters
A clerk counts Chinese yuan and U.S. dollar banknotes at a branch of Bank of China in Taiyuan
China is bankrolling the boom in startup fundraising

State-backed funds and enterprises are championing some of the biggest private investment rounds, tapping into China’s buoyant Internet sector for better returns. That includes backing the record $4.5 billion raised by Alibaba Group Holding Ltd.’s finance affiliate on Tuesday. China’s governments are armed with about $339 billion, the biggest pot of money for startups in the world.