Uber China Valuation, Funding & Investors

Uber China is valued at $9B as of January 2016.

Last Uber China valuation

$9B

Series B · Jan 2016

Last Uber China funding round

$2B

Series B · Jan 2016

Cumulative funding Uber China raised

$2B

across 1 funding round

Key investors in Uber China

Uber China Overview

About Uber China

Uber China is the Chinese ride-hailing business that Uber Technologies set up as a standalone company to run its service in mainland China. It offered app-based rides in Chinese cities, matching passengers with drivers and earning commissions on fares. Uber China raised its own capital from Chinese strategic and financial investors, including Baidu, insurers, banks, carmakers and conglomerates, alongside its parent, so that it could compete with Didi Kuaidi with local backing. The business spent heavily on rider and driver subsidies to win market share. In August 2016 Uber China agreed to combine with Didi Chuxing, which took over its operations and brand in exchange for a stake for Uber and its investors in the enlarged Didi.


HQ

ChinaBeijing

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$9B (Jan 2016)

Uber China Valuation

Uber China is currently valued at $9B, based on its Series B in January 2016. Read the announcement ↗

The $2B round was led by Baidu, with participation from CBC Capital, China Vanke, Uber, Haas Portman, Guangzhou Automobile Industry Group and 6 other investors.

Uber China valuation by funding round

Uber China valuation by funding round
DateStageValuation
Jan 2016Series B$9B

Uber China Funding History

Uber China has raised a total of $2B across 1 funding round.

Uber China funding rounds

Uber China funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2016Series BBaidu (lead); CBC Capital; China Vanke; Uber; Haas Portman; Guangzhou Automobile Industry Group; China Life Insurance; China Taiping Insurance; Hedosophia; China Minsheng Bank; HNA Group; CITIC Securities$2B$9BUber China, the standalone Chinese arm of Uber Technologies, closed its Series B funding round on January 13, 2016, led by Baidu with participation from CBC Capital, China Life Insurance, China Minsheng Bank, China Taiping Insurance, CITIC Securities, Guangzhou Automobile Industry Group, Haas Portman, Hedosophia, HNA Group, Uber, and Vanke. The round valued Uber China at a pre-money figure of $7 billion, though the amount raised was not disclosed and described as over-subscribed. Uber China projected breaking even by 2018 on annual net revenue exceeding $2.4 billion and anticipated total bookings in China for 2016 surpassing Uber's worldwide bookings in 2014. Despite rapid growth and dominance in peer-to-peer ride-hailing in select major cities, Uber China trailed market leader Didi Kuaidi, which was heavily subsidizing at $70-80 million weekly. This investment preceded Uber China's acquisition by Didi Chuxing later in 2016, where Uber received a 17.7% economic stake in the combined entity for its roughly $2 billion prior investment.

Who has invested in Uber China?

12 investors have backed Uber China across its funding rounds, including Hedosophia, Baidu, CBC Capital, CITIC Securities, Uber and China Life Insurance.

Lead investors include Baidu.


Uber China Investors

Investors in Uber China by funding rounds participated
InvestorHQRoundsRoleFirst check
CBC CapitalChinaBeijing1ParticipantJan 2016
China VankeChinaShenzhen1ParticipantJan 2016
UberUnited StatesSan Francisco, CA1ParticipantJan 2016
Haas PortmanUnited StatesLos Angeles, CA1ParticipantJan 2016
Guangzhou Automobile Industry GroupChinaGuangzhou1ParticipantJan 2016
BaiduChinaBeijing1LeadJan 2016
China Life InsuranceChinaBeijing1ParticipantJan 2016
China Taiping InsuranceChinaHong Kong1ParticipantJan 2016
HedosophiaUnited KingdomLondon1ParticipantJan 2016
China Minsheng BankChinaBeijing1ParticipantJan 2016

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Uber China Competitors

Uber China competitors include listed companies like Aurora Innovation, Lyft, Grab and DiDi, and private ones like Bolt and Ola.

Public and private companies comparable to Uber China
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Aurora InnovationUnited StatesUnited StatesPublicly listed$3M($786M)$8.9B971.4x
BoltEstoniaTallinnPrivate$558M-$8.5B-
OlaIndiaBangalorePrivate$129M-$6.7B-
LyftUnited StatesUnited StatesPublicly listed$6.3B$103M$6.6B0.8x
GrabSingaporeSingaporePublicly listed$3.4B$350M$14B2.6x
DiDiChinaChinaPublicly listed$34B$69M$14B0.3x

Uber China Public Comps

Uber China is still privately-owned, but its public comps include Aurora Innovation, Lyft, Grab, DiDi, Via Transportation, GO, Goto Gojek Tokopedia, Lime, CaoCao and Socar.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Aurora Innovation$3M($786M)2652.1x971.4x(10.1x)(10.2x)
Lyft$6.3B$103M0.9x0.8x58.0x8.7x
Grab$3.4B$350M3.2x2.6x30.5x14.3x
DiDi$34B$69M0.3x0.3x150.4x25.1x
Via Transportation$434M($83M)6.3x5.2x(33.1x)(193.8x)
GO$262M$48M4.5x4.2x24.4x18.5x
Goto Gojek Tokopedia$1B($16M)0.3x0.3x(20.3x)2.3x
Lime$887M$87M0.9x-8.9x-

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Common questions about Uber China

Where is Uber China headquartered?Uber China is headquartered in Beijing, China.
Is Uber China publicly listed?No, Uber China is a private, VC-backed company.
What is Uber China's valuation?Uber China was last valued at $9B in its Series B in January 2016.
How much funding has Uber China raised?Uber China has raised $2B across 1 funding round.
What was Uber China's last funding round?Uber China's last funding round was a $2B Series B in January 2016, led by Baidu.
Who are Uber China's investors?Uber China's investors include CBC Capital, China Vanke, Uber, Haas Portman, Guangzhou Automobile Industry Group, Baidu, China Life Insurance, China Taiping Insurance, Hedosophia, China Minsheng Bank and 2 others.
Which companies are comparable to Uber China?Companies comparable to Uber China include Aurora Innovation, Bolt, Ola, Lyft, Grab and DiDi.

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