Uber's Big Bet on Turkey: A New Tech Hub in Istanbul

Uber is putting a lot of money into Turkey. They're opening a new tech center in Istanbul. This is a big deal because it's their fourth center outside the U. S. The other ones are in Brazil, India, and the Netherlands. The company plans to spend $200 million over the next five years. This news came out at an event in Turkey. Uber's CEO and a Turkish minister were there. The new center will help Uber improve its ride-hailing and delivery services in Turkey. But Uber hasn't said when it will be finished. After the announcement, Uber's stock went up a bit. This is interesting because Uber has been under pressure to grow beyond the U. S. market. The U. S. market is big, but it's also very competitive. Lyft, another ride-hailing app, is gaining market share. So, Uber needs to find new ways to grow. Turkey is a good choice for Uber. It has a lot of skilled engineers and a growing tech scene. The number of people working in research and development has gone up a lot in recent years. Turkey is also spending more on tech research. Uber has been expanding in Turkey for a while. Last year, they bought a big part of a Turkish company called Trendyol Go. This company delivers food and groceries. The deal brought Uber 180 new engineers. This shows that Uber sees Turkey as an important market.