Travis Kalanick, CEO of the global ridesharing service Uber, smiles as he attends a press conference in Beijing on January 11. Uber launched in China in February 2014 and is active in 21 cities on the mainland, with plans to be in 100 cities within a year. Photo: AFP

Funding lifts Uber China unit’s valuation to US$8 billion but profits absent

Uber CEO Travis Kalanick says massive spending can’t continue forever

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Travis Kalanick, CEO of the global ridesharing service Uber, smiles as he attends a press conference in Beijing on January 11. Uber launched in China in February 2014 and is active in 21 cities on the mainland, with plans to be in 100 cities within a year. Photo: AFP
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