Uber CEO Says China to Soon Surpass Silicon Valley in Innovation
- Kalanick says Uber needs a Chinese CEO for its Chinese arm
- Uber's Chinese unit now valued at $8 billion as money flows in
Travis Kalanick, CEO of Uber, in Beijing on Monday.
Photographer: Wang Zhao/AFP/Getty ImagesThis article is for subscribers only.
Watch out, Silicon Valley. China’s out to eat your lunch.
So says Travis Kalanick, the Silicon Valley pioneer who steered Uber Technologies Inc. to a larger valuation than four-fifths of the companies on the Standard & Poor’s 500 Index. He’s now setting his sights on China: the ride-hailing company’s domestic unit is now valued at more than $8 billion, Kalanick told reporters in Beijing Friday.