China's two major taxi software canceled "subsidy war"

Tencent Technology News May 23 message, taxi software in China and the United States set off a wave of the Internet market shock wave. While China canceled the "subsidy battle" with two taxi drivers in China, the United States made another huge financing news of the well-known taxi software Uber - the software planned for a new financing of 500 million U.S. dollars this week, while Uber's valuation exceeded 100% Billion U.S. dollars, reaching 12 billion U.S. dollars.

The U.S. authoritative financial media quoted sources as covering the news. Allegedly, Uber has held financing talks with a number of investment companies this week, including well-known fund Blackstone, as well as private equity firm General Atlantic, Technology Crossover Ventures and several other venture capital firms.

It is estimated that by the end of this week, various investment institutions will make investment decisions and the round of financing will exceed 500 million U.S. dollars. The financing transaction will be completed in a few weeks or before the end of the second quarter. The source said there is also the possibility of financing failure.

Earlier, the U.S. Bloomberg News reported that Uber is seeking a new round of venture capital investment of more than one billion U.S. dollars.

What is remarkable is that in this round of financing, Uber's market valuation has reached 12 billion US dollars, into the "billion-dollar valuation club."

In the middle of last year, there were three other tech start-ups that entered the "billions of dollars in clubs," Airbnb for home rental, Dropbox for cloud storage services, and Xiaomi, a Chinese handset maker.

Uber's capital is reportedly close to or surpassing two car rental companies currently listed in the United States - Hertz Global Capital has a current capital market of $ 12.8 billion and Avis-Budget Group's market capitalization of $ 5.8 billion.

Uber was born in the United States, but has begun international development, the world can use the Uber software to hit a car broke through 100 cities. According to one person familiar with the situation, Uber's operating revenue will reach 1.5 billion U.S. dollars by 2015.

While Uber has grown and many consumers enjoy the convenience of quick taxiing, Uber also has conflicts of interest and disputes with regulators and taxi industry organizations in many cities. In addition, its price hikes during the peak, but also lead to consumer dissatisfaction. Uber related controversy often appeared in newspapers before.

Uber-covered vehicles include, in addition to taxis, luxury cars for rental outsiders and private cars that wish to earn extra money by soliciting customers. Uber earns 20% of the cost of each ride as its own commission income, and its most lucrative Commission, from the highest priced luxury car.

This month, Uber's service also received Google's help. Google Maps offers buttons in the new version that jump directly to Uber Car Rental Services. It is reported that Google's venture capital business had invested Uber in 2013, Google will also give Uber more support in the future. (Dawn)