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…