With sale of Uber China, India is likely to become the focal point of global expansion for Kalanick. Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there. "Uber China - in just two years - has exceeded even my wildest dreams. "Uber is out of China, which means their ability to invest in India goes up 2x-3x," he said.In India, Uber is already locked in an intense battle with market leader Ola , which counts Didi as a shareholder. Investors in Uber China, an entity owned by Uber, Baidu and others, will receive a 20% stake in the combined company, Kalanick said.Uber will continue to operate its own app in China for now.

Source: Economic Times August 01, 2016 08:17 UTC