Mobile taxi service Uber might be ahead of competitors in the United States and Europe, but in China the company is struggling against the current leader of the pack, Didi Kuaidi.
A leaked memo from Didi Kuaidi CEO Cheng Wei said the taxi service served three million customers per day, three times the numbers Uber gave a few months ago for China.
Didi Kuaidi was formed through a merger of Didi and Kuaidi, and still uses two separate apps. The companies decided in February to cut losses, merge and compete heavily against Uber’s growth in the region.
Didi Kuaidi is looking for extra investment at a valuation of $15 billion (£10 billion), $35 billion lower than Uber's current valuation of $50 billion (£32 billion).
It seems to be working, with Uber only accounting for 11 per cent of taxi rides in the country, while Didi Kuaidi accounts for 78 per cent. Even with all the outside investment in Uber, it might be hard to crack the Chinese region.
That said, Uber is growing at a huge rate in China. It is seeing 400 per cent growth in some cities, with four of the top ten cities worldwide based in China. Places like Shenzhen, Beijing and Chengdu are all seeing huge growth off the back of Baidu advertising and Uber’s cheap rides.
China is particularly exciting for Uber due to the lack of regulation on the taxi market, unlike some of the other Asian countries like India, South Korea and Indonesia, where Uber also has plans to invest heavily in over the next five years.