“…you cannot ignore a fifth of the world’s population…as an entrepreneur, if you have the opportunity to build both Amazon and Alibaba at the same time, you’d be crazy not to try.”
– Travis Kalenick, CEO Uber.
Is Uber’s unicorn cowboy trying to do precisely this?
As the date for its hyped up IPO draws closer, investors are questioning whether the unicorn will be a rainmaker – or be reined in.
On the surface, it appears as if Kalenick has sacrificed his Alibaba genie for the Amazonian advantage. After losing two billion USD initially in a head to head battle with Chinese rival Didi Chuxing, Uber has “closed” its China operations, a move that investors see as positive, given the losses it has racked up – but will it turn the tide completely for Uber’s global push?
Inchin Closer reviews the situation from an Asian perspective.
- Is Uber moving out of China or simply taking a strategic side-step that may light its candle at both ends – for its US IPO, and its Chinese market share?
- Is Didi a friendly investor or a dragon crouching in the shadows, waiting for the right moment?
- Is Uber really being bought out, as it claims, or buying in?