Uber Believed To Be Keen On Acquiring Meru Cabs
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This move would help Uber build some marketshare in the region as Meru Cabs is a popular name in India. The report further suggests that Meru is looking for somewhere close to $400 million for the acquisition. This should be chump change for a company like Uber which had a recent valuation of $40 billion.
India Value Fund Advisors (
The move makes sense considering that rival cab service Ola was believed to be planning the purchase of Taxi For Sure last week. So it is understandable why Uber would want to step in and join forces with Meru.
IVFA was said to be contemplating an IPO or
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Both Meru and Uber have denied to comment on these reports, so we'll have to wait for more information to pop up. [The Economic Times]
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