Bullish Uber plans to invest $1 billion in China in 2015

SHANGHAI/BENGALARU (Reuters) - Ride-hailing service Uber Technologies Inc plans to invest more than $1 billion in China this year as the controversial ride-hailing app looks to rev up growth in the world's second largest economy, an executive at the firm said on Friday. In an emailed letter to investors, first published by the Financial Times newspaper, Uber head Travis Kalanick said China was the "number one priority" for the company worldwide and that the firm was completing almost 1 million trips in China per day. The letter suggests Uber is taking a bullish approach to China, despite the firm facing raids on its offices and a crackdown on its drivers deemed to be operating illegally.

Bullish Uber plans to invest $1 billion in China in 2015 source: http://finance.yahoo.com/news/bullish-uber-plans-invest-1-100252573.html