Uber,the American international transportation network company headquartered in San
Francisco, California develops, markets and operates the Uber mobile app, which allows
consumers with smartphones to submit a trip request which is then routed to sharing
economy drivers.As of May 28, 2015, the service was available in 58 countries and 300
Uber, on Monday announced a $50 million investment in Hyderabad to set up a facility which will be the biggest outside its headquarters in the US.The new office — will house hundreds of employees, the San Francisco–based company said in a statement. A memorandum of understanding has also been signed with the government of the state of Telangana, where Hyderabad is located, to “create thousands of jobs and entrepreneurship opportunities,
foster technical innovation and research into smart city initiatives and a commitment to make significant investments,” according to the statement.
“The investment will be into Uber’s core business — a new green field project which we
are going to set up here. It will make Hyderabad the largest Uber office in the world
outside the US,” Sidharth Shanker, general manager of Uber Hyderabad operations, told
reporters after signing a Memorandum of Understanding (MoU) with the Telangana
“Hyderabad was always the preferred choice. The style of life, the progressive government
and deep talent pool were the key factors that influenced the decision,” Sidharth said.
The company, which launched its operations in Hyderabad 16 months ago, already has
thousands of partners.
Uber will also work with the government to develop a new regulatory framework to be passed in the next four weeks for on-demand transportation technology aggregator services.