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Uber to Invest $50 Million in Hyderabad Despite Roadblocks in India

Discussion in 'Hyderabad' started by Dreamer, Jul 6, 2015.

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  1. Dreamer

    Dreamer
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    Uber Technologies Inc. on Monday promised to invest $50 million over the next five years in India’s technology hub Hyderabad.

    The investment in the capital of India’s newest state Telangana will create “thousands of jobs and entrepreneurship opportunities,” Uber said in a statement Monday.

    The company signed a memorandum of understanding with the state government, saying it plans to establish a support facility for its ride-hailing app in the city, staffed by hundreds of new employees. A spokesman for Uber said the facility would function as a “helpdesk” for the company. Once the facility is open, India will have Uber’s second-largest employee pool after the U.S.

    “This is an outstanding example of what can be achieved when the private and public sector work together with the best interest of local communities,” Siddharth Shanker,who heads Uber’s operations in Hyderabad, said in a statement.

    The proposed investment comes as the company faces regulatory uncertainty in the city. Uber isn’t currently authorized to operate its ride-hailing app in Hyderabad, said B. Venkateswarlu, a joint commissioner at Telangana’s transport department. The state authority issued an advisory to passengers earlier this year to avoid using services like Uber, which “didn’t fit the regulatory framework,” Mr. Venkateswarlu said.

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  2. Throckmorton Subterfuge

    Throckmorton Subterfuge
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    HOLY COW! Seriously.
     
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