wordpress blog stats
Connect with us

Hi, what are you looking for?

Want to control own destiny in India, one of our top three markets: Uber CEO

Uber chief executive Dara Khosrowshahi has said the taxi-hailing company is committed to investing further in the Indian market while keeping an eye on "eventual profitability". Khosrowshahi told PTI that India is among the top three markets (US and Latin America being the other two) for Uber and it accounts for 10% of all trips globally. "I can tell you that India is a key component of our growth plan. In fact, it is one of our healthiest markets in terms of growth rates. We have over 300,000 active drivers and we currently do over 10 million weekly trips. We think, we can increase that by 5X or 10X over the next 10 years," Khosrowshahi said. While profitability remains a challenge, Uber has invested substantially in India. In 2015, the company announced an investment of $1 billion in the country to expand its services. It has also set up a response and support centre in Hyderabad with an investment of $50 million. But the recent sale of it's South East Asia business to Grab, which follows similar moves in Russia and China, has led to speculation of a potential merger between Uber and Ola in India. Softbank which is a key investor in Ola, picked up a 15% stake in Uber earlier this year. Khosrowshahi was coy but not entirely dismissive when asked about a potential merger with its chief rival in India, he said the company will "look at any deals that can add value to its partners and…

Please subscribe/login to read the full story.
Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ