Meet Uber’s new India Head- an IIT and Stanford Grad!
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Dealing with quite a few issues, the California based Taxi hailing service has appointed "Success in India is a global priority for us," Uber
According to a news report by The Economic Times, the taxi-hailing firm's India revenue run rate - an annualized projection extrapolated from the latest revenue numbers - is close to Rs 1,100 crore ($200 million). "Uber expects this to increase by 35% at the end of July," said a source directly familiar with the matter, declining to be identified.
"Uber continues to see phenomenal steady growth of 40% every month in India as we increase our presence and reliability in the 11 cities across India where we are operational," Allen Penn, head of Asia operations at the company told the ET.
In December last year, Uber was in a bad pitch, after one of its drivers raped a passenger in
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Trouble for the taxi aggregator began in India after one of the drivers on its network allegedly raped a passenger in Delhi in December. Since then, Uber as well as Ola have come under greater regulatory scrutiny for their safety procedures and business models - the
Ola, which is backed by Softbank, DST Global and GIC, plans to expand to at least 200 cities by the end of this year. The company's revenue spurt has been aided by its $200-million acquisition of rival
According to a Goldman Sachs report titled 'India rising internet', the domestic online car rental market is expected to reach $1.4 billion by 2030.
"(Taxi aggregators) are looking at aggressive marketing campaigns and deep discounts as a tool to retain or attract new customers. It is (also) important to address the larger issues like congestion, parking, air pollution, safety and connectivity," Jaspal Singh, cofounder of
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