Uber claims 30% market share in China, to Didi’s… 80%

Share

Dear world: I hope you are sitting down. I don’t want to alarm you but it seems that, once again, Uber hasn’t told the truth about something. I know. I am as shocked as you are.

Three weeks ago, Uber CEO Travis Kalanick sat on stage at the Wall Street Journal’s conference in Laguna Beach and made a bold, apparently totally unsubstantiated claim: That Uber had 30% market share in China. A month earlier, he said similar to CNN. 

The claim seems curious for a few reasons. The first is that up until very recently Uber had never refuted the universally cited Chinese marketshare numbers of Didi Kuadi at 80% to Uber’s 11%. And that 11% came at the cost of some $ 1.5 billion in annual subsidies. The latest we’ve heard — admittedly from Didi — put Uber around 17.5% last quarter, but dropping back below 15% this.  

Yesterday, Didi made its own announcements about market share on stage in Beijing. The service completes seven million rides per day in China, has ten million drivers on the platform, and 250 million registered passengers. It claims it’s 80%-plus market share (confirmed by third parties earlier this year and never disputed by Uber until the recent claim) is increasing.

Well, someone isn’t telling the truth…

Pando latest articles

Share

Didi’s quiet investment in Lyft opens up a third front in its all-out war against Uber

Share

Everyone even half-way watching the ride-sharing wars in China had to see this one coming. 

The Wall Street Journal reported yesterday that Didi Kuaidi quietly put money into Lyft’s May funding round, along with Didi’s own backers Tencent and Alibaba.

Alibaba had already been a Lyft investor, and Pando has detailed at length the strange coalition of billionaires, Asian corporates and hedge funds who are all backing the world’s major Uber competitors. There’s Softbank who is in GrabTaxi, Ola Cabs, and Didi. There’s Coatue who is in Didi, Lyft, and GrabTaxi. There’s Alibaba– and apparently, secretly Tencent– who is in Lyft and Didi. And the strangest twist yet: Didi itself is using it’s own venture capital to invest in GrabTaxi and now Lyft.

We’d said before at a minimum there was some friendly shoptalk going on between all these players who are all fighting the same enemy, and that a formal relationship had to be inevitable. Apparently, it had already happened…

Want to read the whole article?

Pando members get full access to every article published on Pando, including our full archive. You’ll also get free access to Pando Monthly events, each event’s live video stream and our full video archive. Become a Pando Member

Pando latest articles

Share