Uber claims to own 50% share in Indian ride-hailing market

A pedestrian checks a mobile device in front of the Uber Technologies Inc. headquarters building in San Francisco, California, U.S. Photographer: David Paul Morris/Bloomberg

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.

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.