US ride-hailing giant Uber, which had one of the worst market debuts last year, claims to be leading the Indian ride-hailing market with a 50 per cent share.
In a report published on the sidelines of its quarterly earnings call on Thursday afternoon, Uber also said that it maintained number one position in key Rides and Eats markets around the world. Globally, Uber operates in over 900 cities across 69 markets including the US, Canada, India, Europe, Australia, New Zealand and the Middle East.
According to a report in TechCrunch, Uber facilitated 14 million rides in a week in India last year as against 11 million rides a week in January 2018. On the other hand, Uber’s local rival, Ola, had disclosed in regulatory filings for the year ended March 31, 2019, that it recorded 1.5 billion bookings on the platform, which roughly translates to over 28 million weekly bookings, The Economic Times reported.
“As India’s largest mobility platform, Ola serves over 200 million customers through a network of 2.5 million driver-partners,” the report said quoting Ola’s spokesperson.
Both Uber and Ola, which count Japan’s SoftBank as a common investor, have officially shied away from sharing the number of rides they serve in India. However, in a blog post in 2018, Ola said that its platform moves over two million people every day. Founded in 2011 by Bhavish Aggarwal and Ankit Bhati, Ola claims to be offering its services in 250+ cities around the world, including India, Australia, New Zealand and the United Kingdom.
Meanwhile, Uber plans to expand from about 50 Indian cities where it currently operates to 200 in the country by the end of the year. It will focus on onboarding two-wheelers and three-wheelers in many of these cities, TechCrunch reported.
Uber sold its UberEats business in India to Zomato in a $350-million deal in a bid to focus on its core businesses. The all-stock transaction gave the US-based ride-hailing company about 10 per cent shareholding in the Gurugram-based food delivery app.