Top News

India could replace China to become second biggest market for Uber, says CEO

  • Uber is unfazed
    by the regulatory environment in India, the chief executive officer of the world’s
    most valuable
    start-up said, predicting that it could be the second-largest
    market for the company in time to come.
    • Uber is unfazed
      by the regulatory environment in India, the chief executive officer of the world’s
      most valuable
      start-up said, predicting that it could be the second-largest
      market for the company in time to come.
    •  

    •  
    • “India
      is our third-largest country behind US and China and it’s growing pretty
      fast,” Travis Kalanick told the
      Economic
      Times.
      “Based on sheer number of people, over time, it could be
      possible that India surpasses one of them,” he said.
    •  
    • Uber, which
      made its India debut in 2013 and is now present in 22 cities, has been having a
      bumpy ride, unlike other cab aggregators, with problems relating to licensing
      norms and payments.
    •  
    • “I
      don’t feel India has been particularly frustrating compared to other places in
      the world,” said Kalanick, whose firm was valued at $51billion at its last
      round of fundraising in July.
      “India has been open to this kind of innovation and technology
      that’s why we exist in so many of India’s great cities.”
    •  
    • Uber’s main
      rival in India is SoftBank-funded Ola, which is also the market leader. China’s
      leading cab aggregator Didi Kuaidi, also funded by SoftBank, is likely to
      invest in Ola, signalling a joining of forces by the Asian firms to take on
      Uber.
    •  
    • Kalanick,
      who founded two start-ups before he hit big with Uber, indicated that
      competition would not upset his sang-froid.
    •  
    •  “Competition makes us better. In terms of
      competitors investing in other ones, it’s not what we do but that doesn’t
      bother us,” he said. Kalanick said Bengaluru, along with Beijing and Bay
      Area, is going to be one of the great global centres of starting up and tech
      innovation. 

     

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close