Europe: Uber faces numerous challenges on the continent image

Travis Kalanick, chief executive officer of San Francisco-based Uber Technologies is currently in Europe as he decided to attend the annual Digital Life Design conference in Munich, Germany in order to speak with technology investors.

Uber Technologies has grown from a startup company to be valued today at $40 billion, as the car-sharing service provider is keen on expanding its presence all around the world. Met with disbelief and even open opposition in many parts of the world, Uber seeks to crack the European market – one of the largest when it comes to transportation services – even as pressure comes from disgruntled taxi and limousine operators. Additionally, increased regulatory scrutiny has brought numerous bans and restrictions, forcing the company to sometimes change its business model in order to survive.

The Bavarian metropolis is just the beginning of Kalanick’s European tour- with the CEO promising to add 50,000 jobs in Europe if cities from Milan to Madrid allow his car-riding service the space to grow. He will follow up with a visit to Brussels later this week – in order to meet with European Union officials and discuss the challenges faced by the company as it seeks regional expansion. The top executive also said he’ll be looking for partnerships with European cities in 2015, similar to the one they have with Boston’s municipality on applications that span from traffic to pollution control. Facing numerous bans in cities across Europe, Uber has sometimes sacrificed its core business model, even allowing users to find taxis, even if it’s a far less reliable source of revenue.

Via Bloomberg