Alibaba-Backed Kuaidi Challenges Uber in China

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July 7 (Bloomberg) -- Hangzhou Kuaidi Technology Co., a taxi-booking service backed by Alibaba Group Holding Ltd., is adding luxury cars in China to boost revenue as it steps up its challenge to Uber Technologies Inc. Bloomberg’s Lulu Chen reports on “The Pulse.” (Source: Bloomberg)

Lulu chen joins us with the details.


Tell us the story here and the new expansion plan.


Kuaidi it's pretty big in china and they are focused on taxis and they are trying to go to high end and they are the main competitor with a service that is backed by the largest asian internet company and has to do with expanding revenue channels and one of the main reasons is they are cash burning companies.

And they have not been able to find a sustainable revenue model.

There are regular areas of uncertainty in china out there saying the government has been thinking about centralizing these platforms and offering them under a platform, an umbrella operated by the government.

Is a mixed vendor of revenue channels.

What does it mean for uber?

Are they both competing?

Ride is rolling out new -- uber is rolling out new high-end cars?

Uber has a high -- they have been successful.

They are hiring and expanding across china.

So far, they have not committed too much competition partly because they have been targeting different customer segment.

Now that kuaidi has announced they are under the same business model as uber and there's a company that a lot of backing from alibaba and lots of cash and lots of technical know-how, it is a game changer.

Probably game on for uber.

Lulu chen, thank you so much.

Mercedes is given that one of his top of the line s class carson site is not for everyone.

It cost more than $1 million.

Matt miller got a ride.

Bmw has a rolls-royce and audi has been late but what does the other germany maker have?

They will bring back the s class plated with armor that cost over $1 million.

Twice the price of the most expensive rolls-royce.

And as a royalty and the rich,

This text has been automatically generated. It may not be 100% accurate.


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