Uber, an American international transportation network company headquartered in San Francisco, California, on Monday announced a $50 million investment in Hyderabad to set up an international office, which will be the biggest outside its headquarters in the United States.
Uber is the third international company planning to open their largest international office in Hyderabad besides Google and Amazon. The investment came just days after their expansion to 7 new Indian cities – Bhubaneswar, Coimbatore, Indore, Mysore, Nagpur, Surat and Visakhapatnam.
Uber has signed a memorandum of understanding (MoU) with the Telangana government in creating thousands of job and entrepreneurship opportunities with collaboration with the Telangana Academy for Skills and Knowledge (TASK). The duo will train 2000+ candidates to drive cars on their platform by the end of 2016.
“The investment will be into Uber’s core business — a new green field project which we are going to set up here. It will make Hyderabad the largest Uber office in the world outside the US,” Sidharth Shanker, general manager of Uber Hyderabad operations, told reporters.
The state-of-the-art office in Hyderabad city will house about 500 employees in the next five years. The investment will also promote technical innovation and research into smart city initiatives in collaboration with T-Hub and Telangana State government.
“Hyderabad was always the preferred choice. The style of life, the progressive government and deep talent pool were the key factors that influenced the decision,” Sidharth said.
They will also work with the government in developing a new regulatory framework for on-demand transportation technology aggregator services, which will be passed in the next 4 weeks. In April, Uber chosen Hyderabad from 320+ odd cities for accepting cash payments.