Uber vows to tackle losses, with help from India
5 years, 2 months ago

Uber vows to tackle losses, with help from India

Live Mint  

Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi vowed to get his company to profitability while pursuing growth from emergent arenas such as India, addressing investors’ concerns about the ride-sharing company’s mounting losses and global regulatory challenges. It was a profitable company with significant cash flows,” Khosrowshahi said at Uber’s engineering center in Bangalore, which was decked out with oil lamps and sheer orange drapes for Diwali. Uber’s take rate, or commission earned, in rides was over 20% and “a great business can be built with a 20% take rate.” Uber is one of the most prominent companies in the portfolio of SoftBank Group Corp., the Japanese investment powerhouse that also backed WeWork and former rivals such as Didi Chuxing. California’s classification of drivers as employees would be a “mistake” and would increase prices for riders while making the service available to fewer people, Khosrowshahi said.

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India mobility opportunity massive, underpenetrated; have barely scratched surface: Uber
1 month, 3 weeks ago

India mobility opportunity massive, underpenetrated; have barely scratched surface: Uber

Deccan Chronicle  

New Delhi: India is among the largest markets by volume and growing at a rapid pace, President of Uber India and South Asia Prabhjeet Singh has said, terming it an "incredibly important market" that presents a multi-decadal opportunity for the ride-hailing platform. "There is so much more to be done even though we are growing leaps and bounds," the top …

India mobility opportunity massive, underpenetrated; have barely scratched surface: Uber
1 month, 3 weeks ago

India mobility opportunity massive, underpenetrated; have barely scratched surface: Uber

Live Mint  

New Delhi, Nov 15 India is among the largest markets by volume and growing at a rapid pace, President of Uber India and South Asia Prabhjeet Singh has said, terming it an "incredibly important market" that presents a multi-decadal opportunity for the ride-hailing platform. "There is so much more to be done even though we are growing leaps and bounds," …

India one of the toughest markets: Uber global CEO Dara Khosrowshahi
10 months, 2 weeks ago

India one of the toughest markets: Uber global CEO Dara Khosrowshahi

The Hindu  

Uber global CEO Dara Khosrowshahi said India was one of the toughest markets to grow in because people in the country wanted a lot of services but didn’t want to spend much money. Mr. Khosrowshahi, in the course of the conversation with Mr. Nilekani, also said companies and governments around the world could learn from the scale and ambition of …

For Uber CEO Dara Khosrowshahi, India holds the key: 'If we can succeed here, we can succeed anywhere'
10 months, 2 weeks ago

For Uber CEO Dara Khosrowshahi, India holds the key: 'If we can succeed here, we can succeed anywhere'

Hindustan Times  

Uber CEO Dara Khosrowshahi said that India is one of the most challenging markets for growth during a chat with Infosys co-founder Nandan Nilekani in Bengaluru. Acknowledging the difficulties that his company faces, Dara Khosrowshahi said, "India is one of the toughest markets out there; they are so demanding and do not pay for anything. Uber's potential membership could boost …

Boss Move: Bengaluru cab driver launches his own app to compete with ride-hailing apps like Uber, Ola
1 year ago

Boss Move: Bengaluru cab driver launches his own app to compete with ride-hailing apps like Uber, Ola

Firstpost  

Fed up of the way ride-hailing apps like Ola and Uber treat drivers, A Bengaluru-based cab driver has created and launched his own ride-hailing app, Nano Travels, and has already on-boarded over 600 drivers in the city to use it Bengaluru, India - In a surprising move that reflects the entrepreneurial spirit of the city, a Bengaluru cab driver, identified …

Uber Green Launched in India, Aims to Become a Zero-Emissions Mobility Platform by 2040
1 year, 7 months ago

Uber Green Launched in India, Aims to Become a Zero-Emissions Mobility Platform by 2040

News 18  

Uber, the renowned global ride-sharing app, has announced a series of groundbreaking partnerships aimed at promoting sustainable mobility in India. Uber Green, available in over 100 cities across 15 countries, is the most accessible on-demand mobility solution for low or no-emission rides worldwide. Together, they aim to deploy 25,000 electric vehicles across Uber’s top seven cities, empowering drivers to transition …

Uber looks to boost digital ad revenue with new advertising division
2 years, 2 months ago

Uber looks to boost digital ad revenue with new advertising division

The Hindu  

Uber Technologies Inc. has launched a new advertising division as the ride-hailing firm looks to diversify its revenue sources through tie-ups with brands and marketers. With a reach of 122 million monthly active users globally, the company said on Wednesday it will sell ad space inside its ride-hailing and UberEats apps, along with in-vehicle digital ads, "While consumers are making …

Uber gearing up to roll out bus seat booking facility in India, says Uber India president
2 years, 3 months ago

Uber gearing up to roll out bus seat booking facility in India, says Uber India president

The Hindu  

In a bid to take ride hailing to the masses, Uber India is gearing up to enable commuters to book a bus seat using the Uber app. “The expectation is to open a completely new addressable segment for Uber.so that we can serve the common man in a holistic way,” Prabhjeet Singh, president, Uber India and South Asia, said in …

Uber India to lay off 600 people
4 years, 7 months ago

Uber India to lay off 600 people

The Hindu  

Cab aggregator Uber on May 26 said it would lay off about 25% of its employees in India due to the negative impact of COVID-19 on the business. “The impact of COVID-19 and the unpredictable nature of the recovery has left Uber India SA with no choice but to reduce the size of its workforce… These reductions are part of …

Uber cuts 600 jobs in India due to COVID-19; 'made the decision so that we can look to future with confidence', says country head
4 years, 7 months ago

Uber cuts 600 jobs in India due to COVID-19; 'made the decision so that we can look to future with confidence', says country head

Firstpost  

Uber announced it is laying-off a fourth of its total headcount of 2,400 in the country across customer and driver support, business development, legal, finance, policy and marketing verticals. Last week, after cab aggregator Ola said it is laying off 1,400 employees, Uber India has announced it is axing 600 jobs in India. These reductions are part of previously announced …

Uber Eats focusses on aggressive expansion in India
5 years, 1 month ago

Uber Eats focusses on aggressive expansion in India

India TV News  

Uber Eats, the food delivery unit of Uber, on Friday said it is focussing aggressively on expanding its presence in India, a market that is expected to become a USD 15 billion opportunity over the next few years. India is fundamental to Uber's growth and we have a stable and massive rides business and we don't see a reason why …

India fundamental to Uber's growth story, investing in talent here: CEO Dara Khosrowshahi
5 years, 2 months ago

India fundamental to Uber's growth story, investing in talent here: CEO Dara Khosrowshahi

Firstpost  

New Delhi: Uber chief Dara Khosrowshahi on Tuesday said India is fundamental to the company’s growth, and the US-based ride-hailing platform is investing in talent here to develop products that can be taken to other countries. Khosrowshahi, who is on a five-day trip to India, also launched ‘Public Transport’ feature on the Uber app in Delhi to allow commuters plan …

India’s unicorns find exit doors blocked
5 years, 3 months ago

India’s unicorns find exit doors blocked

Live Mint  

Bengaluru: WeWork, a fast-growing startup that has smartly dressed up the business of subleasing office space, is expected to list its shares in the following months. “The consumer internet unicorns still don’t have great unit economics so an IPO by any of them looks highly unlikely for the next two to three years,” said Anand Lunia, founding partner at India …

Nearly 20 Indians hit by Uber layoff as growth slips
5 years, 5 months ago

Nearly 20 Indians hit by Uber layoff as growth slips

Live Mint  

New Delhi: Several Indian employees were left in the lurch when ride-hailing service Uber sacked 400 staffers from its 1,200-member marketing team globally to cut costs and streamline operations. In a document posted on LinkedIn as "Ex-Uber Marketers," nearly 20 Indians employed with Uber who lost their jobs in the recent round of layoff have applied for jobs on the …

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO
5 years, 6 months ago

Uber won’t be profitable for years, and we’re not going to have a huge profit margin, says CTO

CNN  

Hong Kong CNN Business — Uber will take at least “a few years” to become profitable, according to one of the ride hailing firm’s top executives. The industry right now “is very competitive,” Uber’s chief technology officer Thuan Pham said at a tech conference in Hong Kong on Tuesday. “We have local competitors everywhere trying to aggressively expand to grow …

Tackled Uber’s entry with guerrilla-like plan: Ola
5 years, 6 months ago

Tackled Uber’s entry with guerrilla-like plan: Ola

Live Mint  

India's biggest ride-hailing firm Ola countered American giant Uber's "carpet bombing" entry into the country with guerrilla warfare by going into nooks and corners to gain a significant market share, its founder and CEO Bhavish Aggarwal said. Speaking at the IIT Bay Area Alumni meet in California, a transcript of which was made available by the company, Aggarwal said Uber …

Flying taxi in Delhi, Mumbai soon? Well, Uber’s top boss is interested
5 years, 6 months ago

Flying taxi in Delhi, Mumbai soon? Well, Uber’s top boss is interested

Live Mint  

Washington DC: Though Uber Technologies Inc. has named Melbourne, Australia, as the first city outside the US to host Uber Air services, India will be an important market for its futuristic flying taxi service, a top company executive said. “We are very interested in India in terms of potential for the Uber Air market in the long run,” said Eric …

Uber’s crazy ride: From cool app that saves time to biggest IPO in years
5 years, 7 months ago

Uber’s crazy ride: From cool app that saves time to biggest IPO in years

Live Mint  

How much is a great idea worth? “He’s an incredible idea generator,” says Tim Ferriss, a friend and self-help author who invested in Uber after Camp pitched him the idea at a bar in 2008. Kalanick helped recruit Ryan Graves as Uber’s first CEO with a tweet promising “BIG equity, big peeps involved.” Graves spent his first six months getting …

Uber pitches expansions while investors question losses
5 years, 8 months ago

Uber pitches expansions while investors question losses

Live Mint  

Uber Technologies Inc. is betting expansion into new markets and new business areas will attract investors to its initial public offering. During the Q&A session, Uber management shared its plan to expand in logistics and other transportation businesses, including scooters, autonomous driving and mass transit, one of the people said. Unlike its competitors, Uber’s existing platform allows it to benefit …

Uber's Amit Jain to leave next month, Pierre-Dimitri Gore-Coty named as new Asia-Pacific unit chief
5 years, 8 months ago

Uber's Amit Jain to leave next month, Pierre-Dimitri Gore-Coty named as new Asia-Pacific unit chief

Firstpost  

San Francisco-based Uber counts India as one of its major growth markets and has been locked in a fierce battle with homegrown rival Ola for years. New Delhi: Uber Asia Pacific head Amit Jain has resigned from the company after a four-year stint at the US-based ride hailing company. Amit has been instrumental in growing our Rides business — first …

Opinion | Uber’s IPO filing affirms a dangerous business model
5 years, 8 months ago

Opinion | Uber’s IPO filing affirms a dangerous business model

Live Mint  

Last week, in Delhi, I took an Uber cab to the airport from my home, a distance of about 14 kilometres. In Uber Eats, for instance, which has declined for two successive quarters, it is forced to accept a lower rate of revenue to gross bookings, to bring on board what it calls “large-volume restaurants at a lower service fee …

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future
5 years, 8 months ago

Uber unveils IPO with warning it may never make a profit; operating expenses to increase significantly in future

Firstpost  

Although Uber’s user base includes customers of other services as well as ride-sharing, Uber’s 91 million is nearly five times the 18.6 million announced by rival Lyft Inc. New York: Uber Technologies Inc has 91 million users, but growth is slowing and it may never make a profit, the ride-hailing company said on Thursday in its initial public offering filing. …

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