Uber’s got its eye on the next big prize

Last week it’s China business was bought up by Didi Chuxing

But there’s always its number 2 overseas market: India

Uber’s now going full throttle on the subcontinent

Reuters’ Euan Rocha says that’s bad news for the country’s homegrown ride hailing company, Ola.

(SOUNDBITE) (English): REUTERS MUMBAI BUREAU CHIEF, EUAN ROCHA, SAYING:

“Now that Uber has kind of ceded or combined forces with Didi in China, India becomes the big game for them. This is where all the growth lies, and this is the market this is the one international market that they’re really going to throw their heft behind right now.”

For Uber that means building a new engineering centre, hiring more workers, even apparently bringing on an ex-Google executive.

In order to keep up, Ola needs money

It used to have a big ally in the fight against Uber world domination:

Didi Chuxing

The Chinese company invested about $30 million in Ola last year

But after the Uber China deal – that alliance is in question

Along with potential for more investment.

(SOUNDBITE) (English): REUTERS MUMBAI BUREAU CHIEF, EUAN ROCHA, SAYING:

“Ola was looking to raise a billion dollars this year so it could compete better against Uber in the Indian market. Because Uber, as we all know, has a very, very large pot of money that it can tap from. The big challenge for them is with Didi now tied up or in bed in a sense with Uber in China, fund-raising or raising a billion dollars could really prove to be a big challenge for the company this year.”

Ola today’s got about half of the country’s $12 billion taxi market

But Uber’s catching up fast with around 30 percent

Experts warn that if Ola wants to stay ahead…

it’s going to have to find a lot more money to put in the game, and fast.