The fight is on

There’s no doubt that Uber rules the ride-sharing space. Apart from being the most valuable startup in Silicon Valley with a $50 billion valuation, Uber is also the number one ride-hailing app in the world, enjoying unrivalled dominance in the space. By virtue of its size and financial power, it’s easy to assume that Uber can easily bulldoze any competitor that stands in its way. However, recent movements by investors hint that there could be ample room for competition. A few days ago, Paris-based BlaBlaCar announced that it received a funding of $200 million from New York-based Insight Venture Partners and Lead Edge Capital, as well as Stockholm’s Vostok New Ventures. This investment comes on the heels of Didi Kuaidi’s $100 million investment in Uber’s US rival Lyft, and Falcon Edge Capital and Tiger Global Management’s $222.5 million investment in India’s biggest taxi app service, Ola. Although it remains to be seen whether these services will form a global alliance soon, the one thing we can be sure of is, Uber’s competitors are not about to concede defeat.
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