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MOBILE & TELECOMMUNICATIONS | Mobile Commerce / Travel (mobile)

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Stage

Acquired Unit | Acquired

Total Raised

$1.2B

Valuation

$0000 

About Uber China

Uber is a mobile application that allows subscribers to get a car service from cell phones. Users can request a car by telling the company a location, via texting an address or using iPhone or Android apps to set a pickup location on a map. Uber will send the nearest driver for pick up, and text message an estimated arrival time. When the ride is over, Uber will automatically charge the users' credit card on file. Uber takes GPS data from the ride and charges for distance or time depending on speed. Any tolls and surcharges incurred during a ride are then added on top of this calculated fare, as well as a base fare.

Uber China Headquarter Location

Shanghai, Shanghai,

China

Latest Uber China News

Binance US Names Former Ant and Uber China Exec as President

Sep 9, 2021

Binance US Names Former Ant and Uber China Exec as President Binance.US announced Brian Shroder, a veteran executive with extensive experience in Asia, will take on the role of President. Binance US President. Credit: LinkedIn In brief The appointment follows recent turmoil at the company and questions over its independence Binance announced on Thursday that Brian Shroder, an executive who has overseen operations in Asia for Uber and the Chinese fintech giant Ant Group, will take on the role of President at Binance US. The appointment comes one month after Binance US CEO Brian Brooks abruptly quit after just three months on the job. His predecessor Catherine Coley was ousted in May . All the while, Binance CEO Changpeng "CZ" Zhao has reiterated his aim of taking Binance US public  in the next three years. The naming of Shroder, a Harvard MBA who kept a low profile while occupying senior roles at Ant and Uber, appears to be an effort to steady the ship. According to Binance.US, Shroder will oversee "strategy and execution, fundraising, business and corporate development as well as manage the firm's Legal, HR, and Product & Technology functions." In a statement, Schroder said his experience at fast-growing companies will help him guide Binance.US toward an IPO and that he believes the firm "has all the right ingredients to become the largest and most successful cryptocurrency and digital asset exchange in the United States." Shroder also described the U.S. company as "regulatory compliant," though it's unclear if this the case. Various U.S. authorities are reportedly investigating Binance for legal irregularities, while authorities in the U.K. recently described the company as "not capable" of being supervised. While those controversies relate to Binance, not Binance.US, there have been ongoing questions over whether the American operation is truly arms-length and independent as CZ has claimed. These questions were raised anew in the wake of Brooks' sudden departure, which led the New York Times and New York magazine to report he had quit after CZ reneged on a plan to make Binance.US more autonomous through a new board structure and a new fundraising round. It's unclear if the hiring of Shroder, who will also receive a seat on the board of Binance.US, will allay these concerns over the American company's independence. While he is a U.S. citizen, his previous work as a fundraiser for Uber China and extensive work in Asia—where Binance is primarily based—may fan suspicions that it is CZ who remains ultimately in charge. These perceptions could change, however, depending on who is named to replace Brooks as CEO of Binance.US. In the meantime, the U.S. operation is being led by an interim CEO. In a statement, CZ praised Schroder, saying "His substantial experience in strategy, operations, and business and corporate development will be critical as Binance.US seeks to raise external funds to support its rapid growth." https://decrypt.co/80577/binance-us-president-shroder

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Research containing Uber China

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Uber China in 1 CB Insights research brief, most recently on Dec 16, 2020.

Expert Collections containing Uber China

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Uber China is included in 2 Expert Collections, including Portfolio Company Matchmaking M&A.

P

Portfolio Company Matchmaking M&A

389 items

Companies that have raised since 2009 that were acquired by one of their investors other portfolio companies

M

Mobility-as-a-Service

553 items

Companies developing solutions to streamline the way people move themselves. Includes companies providing on-demand access to passenger vehicles and micromobility solutions as well as companies integrating multiple modes of transport, including public transit, into one service.

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