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India: Uber hits 100th city milestone with latest launch
Since its launch in the country in 2013, Uber has served nearly 95 million riders and drivers
Reuters file
Eight years after it drove into India, Uber on Thursday announced that it launched services in Warangal, Telangana, covering the 100th city in the country.
“We launched in India in 2013, and quickly became the ride sharing platform of choice by offering convenient, affordable and safe ways to get from point A to point B,” said a company spokesperson. “Since then, we have served nearly 95 million riders and drivers, till date.”
Launched in 2009 in the US as UberCab, the company went live in New York and Chicago two years later. The same year, it expanded to Paris and in 2012 to Canada and the UK.
Over the years, Uber has confronted challenges around the globe, but has managed to thrive. About two years ago, it went in for an IPO, raising $8.1 billion. Today, it has a market capitalisation of $86 billion.
The taxi operator faced problems in India just a year after it launched its service in Bangalore; a driver in Delhi raped a passenger late at night in the vehicle, raising demands for a ban on such foreign operated entities.
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And three years before it forayed into India, homegrown Ola was already capturing the market. Backed by Japan’s Softbank group, the Indian cab major has expanded into Australia and Britain. Started in 2010 by Bhavesh Aggarwal, Ola plans to raise up to a billion dollars in an IPO soon.
The company has also diversified aggressively into electric scooters and leasing cars.
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