Tuesday, August 02, 2016

Uber is not down after the China deal - Andy Mok

Andy Mok
Andy Mok
Uber threw in the towel at the killing ride-hailing wars in China, but that does not mean Uber is out, especially on a global level, says Andy Mok, managing Director at Red Pagoda Resources, especially on a global level, he tells Bloomberg. "They want to be the Cisco of the physical world."

Bloomberg:
By shedding its losses in China, the move may clear Uber’s path to an eventual initial public offering. And as part of its deal, Kalanick joins Didi’s board -- literally gaining a seat at the table as the effort to dominate the world’s largest ride-sharing arena unfolds. 
So never count Uber out, at least on a global level, said Andy Mok, Managing Director at Red Pagoda Resources in Beijing. 
“They want to be a Cisco of the physical world, the network that routes physical people and objects,” said Mok. “In a way, this frees up space for more technology development.”
More in Bloomberg.

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