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Thu 12 Apr 2018 11:11 AM

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Five things to know about Uber's regional rivals

The ride-hailing app might dominate the headlines but is it beginning to lose out on the street?

Five things to know about Uber's regional rivals
The ride-hailing app might dominate the headlines but is it beginning to lose out on the street?
Five things to know about Uber's regional rivals
1. Didi Chuxing: Launched in 2012 and backed by Japanese technology conglomerate SoftBank, the Chinese ride-hailing app has 450 million registered users (in a country of a billion mobile phone users) and 21 million drivers – compared to 2.6 million licensed cab drivers. Its latest valuation was $56bn, more than Uber with its 75 million users.
Five things to know about Uber's regional rivals
2. Taxify: This Estonian start-up is now backed by the aforementioned Didi Chuxing. Last October, it added Paris to its portfolio and had 2,000 drivers already signed up and a waiting list of 3,000 more. Why? Well, it takes 10 percent less off its drivers and is cheaper for users. It is now present in Riyadh, too.
Five things to know about Uber's regional rivals
3. Grab: Founded in 2012 in Malaysia before moving to Singapore, Grab now serves 168 cities across eight countries, mainly in Southeast Asia. It claims it has a 95 percent market share in that region and is responsible for nearly three million daily rides. It has raised $4.1bn so far in funding – and now owns a stake in Uber.
Five things to know about Uber's regional rivals
4. Careem: Not something that really needs any introduction, Dubai-based Careem was founded in 2012 and offers its service in more than 80 cities in the MENASA region. Its various funding rounds, which values it at $1.2bn, includes $150m by Prince Alwaleed Bin Talal’s Kingdom Holding. Its network numbers more than 250,000 drivers.
Five things to know about Uber's regional rivals
5. Ola: One of the earliest pretenders to Uber’s crown, Ola now operates in nearly 100 cities in India and is by some distance the largest ride-hailing app in South Asia. Now looking to challenge Uber in Australia, it is in talks with Singapore’s sovereign wealth fund Temasek to raise another $1bn in funding.

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