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How Uber Lost 1.36 Billion Customers Just Like That

How Uber Lost 1.36 Billion Customers Just Like That

Exactly on the 1st of January 2015, Beijing's Traffic Enforcement Unit banned the operation of "illegal" taxi services in the capital after receiving complaints from passengers. In its eyes, unlicensed taxis, which includes Uber vehicles, are "taxi clones" and affirms that private cars operating through taxi applications is considered an act of illegal operation. The Ministry's stated reason for the ban was to protect the "hired car" market from unfair competition. This is the standing opposition of antagonists be it in Beijing, or in New York.

So for now, it is one market - which turns out to be the world's most populous nation - down; the $41.2bn price tag remains, no discount as of now. We patiently wait for positive positive (hopefully) developments, and most importantly, strategies to side step its mounting hurdles; because absent which severely limits the company's potential.