As Ola and Uber started to gain ground in cities, the companies began to actively experiment with exactly how much money they needed to spend like this. Could drivers hit 40 rides in three days, and do it for less money? Uber and Ola both kept tweaking the figures.
Google App recently launched Hyperlocal Services App Aero. The App had been launched in the cities of Bangalore and Mumbai. Currently it aggregates food delivery, beauty, home maintenance, household repairs, fitness training as well as physiotherapy. Following the launch of Aero, Uber also launched UberEATS to rival services offered by Google, Zomato, foodpanda and Swiggy.
On-demand technology-based cab hailing services firm Uber launched UberEATS – a food delivery service similar to foodpanda, Swiggy and Zomato– on Tuesday to tap what it claims is an $15 billion unorganised sector in India.
Cab-hailing giant Uber has entered the $15-billion food delivery market in India even as multiple startups shut shop and existing ventures such as Swiggy, Zomato and Foodpanda continue to bleed.
Uber is finally opening up about the ongoing cab strikes in Indian cities and publicly addressing drivers’ demands.
Uber’s desperate attempt to turn India into its next big market isn’t chugging along smoothly.
Mid-way through the year, something unexpected happened with Uber – the largest startup in terms of valuation. It gave up in the world’s most populous country. In an apparent move to stop a bloodbath in terms of losses, US-based Uber Technologies Inc, co- founded by Travis Kalanick, agreed to sell its China business to home grown rival Didi Chuxing. That made India, the second biggest market for Uber after the US the focal point. It was the biggest highlight for Uber in India in year 2016.
The business models of major online taxi aggregators may be headed for a test in India.
Why is taxi-hailing app Uber doubling down in India and China? Last month, the San Francisco-based company closed $1 billion in fresh funding, raising its valuation to $50 billion-plus. The fund-raising coincided with its announcement that it was going to invest $1 billion in India over the next nine months. Only the previous month, Uber had bared its intentions to pump in $1 billion this year into China to play catch up with Didi Kuaidi, which has reportedly outgunned the US challenger in that huge market.