comscore We will invest whatever we have to for success in India: Uber CEO Dara Khosrowshahi
News

We will invest whatever we have to for success in India: Uber CEO Dara Khosrowshahi

The Uber CEO said that the company will focus on specific functionality and purpose built for the Indian customers.

  • Published: March 28, 2018 6:00 PM IST

Uber’s deal with Grab will help the US-based cab aggregator increase investments in its core markets like India towards ramping up products as well as growing new businesses like Uber Eats, chief executive Dara Khosrowshahi said. Also Read - Uber cab service resumed in 31 cities in India with new Lockdown 4.0 guidelines

In an interview to PTI, Khosrowshahi said India is already among the top three markets (besides the US and Latin America), accounting for 10 percent of its trips globally. Also Read - Uber launches 'Uber Connect' package delivery service to rival Dunzo and Swiggy Genie

“The great news about our Grab deal is that it allows us to double down to invest aggressively in our core markets – and we consider India very much as core to Uber’s success… we will be more focused on organic growth in the markets that we are operating in,” he said. Also Read - Uber to operate 'Essential' cab service to hospitals and pharmacy stores in 4 cities

The top executive, who took over the reins of Uber in August last year, said the company will invest “whatever we have to in order to succeed in India”.

“We have no cap. We will increasingly build out our product to be leading not only globally, but also focus on specific functionality purpose – built for our Indian customers,” he emphasised.

Uber has been pumping in substantial funds to fuel its growth in India. In 2015, Uber announced an investment of USD 1 billion in the country to expand its services. It has also set up a response and support centre in Hyderabad with an investment of USD 50 million.

Profitability in the Indian market, however, is still some time away for Uber, one of the world’s most valued startups.

“I think it would be a mistake to show profits in India next year. It would mean that we aren’t investing enough… We are confident about our competitive position in India our driver sentiment, rider sentiment, the quality of our service are all leading and we intend to build on that lead,” he said.

He added that India is one of Uber’s healthiest markets in terms of growth rates of number of active drivers and weekly trips.

“We think we can increase that by 5x or 10x over the next 10 years. That will require investment, but as you mature, you also want to combine that investment with eventual profitability… we just do not have a specific timeline in mind,” he said.

Asked about a possible merger with homegrown rival Ola, he said the company will “look at any deals that can add value to its partners and shareholders, but we believe in controlling our own destiny in India”.

There have been speculations about Uber and Ola joining forces in the Indian market. These got stronger after SoftBank – an investor in Ola – joined Uber as an investor committing over USD 1 billion.

Apart from India, the two now also compete in the Australian market with Ola recently launching its services in Perth and Sydney.

Talking about reports suggesting that Uber is exiting developing markets to cut back on the high cash burns, Khosrowshahi said if a company focused on only developed markets, it would “hit a growth wall” at some point in time.

He added:”You have to take profits from developed markets and put them into growth markets such as India, the Middle East and even Africa and that is exactly what we intend to do. And believe me, Masa (SoftBank CEO) likes growth!”

This is published unedited from the PTI feed.

For the latest tech news across the world, latest PC and Mobile games, tips & tricks, top-notch gadget reviews of most exciting releases follow BGR India’s Facebook, Twitter, subscribe our YouTube Channel. Also follow us on  Facebook Messenger for latest updates.
  • Published Date: March 28, 2018 6:00 PM IST



new arrivals in india

Infinix Note 10 Pro
Infinix Note 10 Pro

16,999

Infinix Note 10
Infinix Note 10

10,999

Vivo Y73
Vivo Y73

20,990

OnePlus Nord CE 5G
OnePlus Nord CE 5G

22,999

iQOO Z3
iQOO Z3

19,990

Realme C25s
Realme C25s

9,999

Poco M3 Pro 5G
Poco M3 Pro 5G

13,999

Realme X7 Max 5G
Realme X7 Max 5G

26,999

Oppo F19
Oppo F19

18,990

Motorola Moto G40 Fusion
Motorola Moto G40 Fusion

13,999

POCO M2 Reloaded
POCO M2 Reloaded

9,499

OPPO A74 5G
OPPO A74 5G

17,990

Oppo A53s 5G
Oppo A53s 5G

14,990

Vivo V21 5G
Vivo V21 5G

29,990

Realme C25
Realme C25

9,499

Realme C21
Realme C21

7,999

Realme C20
Realme C20

6,799

Motorola Moto G60
Motorola Moto G60

17,999

iQOO 7
iQOO 7

31,990

Samsung Galaxy M42 5G
Samsung Galaxy M42 5G

21,999

Xiaomi Mi 11 Ultra
Xiaomi Mi 11 Ultra

69,999

Xiaomi Mi 11X Pro 5G
Xiaomi Mi 11X Pro 5G

39,999

Xiaomi Mi 11X
Xiaomi Mi 11X

29,999

Realme 8 5G
Realme 8 5G

13,999

Samsung Galaxy F02s
Samsung Galaxy F02s

8,999

Samsung Galaxy F12
Samsung Galaxy F12

10,999

POCO X3 Pro
POCO X3 Pro

18,999

Realme 8 Pro
Realme 8 Pro

17,999

Realme 8
Realme 8

14,999

Vivo X60 Pro Plus
Vivo X60 Pro Plus

69,990

Vivo X60 Pro
Vivo X60 Pro

49,990

Vivo X60
Vivo X60

37,990

OnePlus 9 Pro 5G
OnePlus 9 Pro 5G

64,999

OnePlus 9R 5G
OnePlus 9R 5G

39,999

OnePlus 9 5G
OnePlus 9 5G

49,999

Samsung Galaxy A72
Samsung Galaxy A72

34,999

Samsung Galaxy A52
Samsung Galaxy A52

26,499

Micromax In 1
Micromax In 1

10,499

Asus ROG Phone 5
Asus ROG Phone 5

49,999

Samsung Galaxy M12
Samsung Galaxy M12

10,999

Motorola Moto G30
Motorola Moto G30

10,999

Motorola Moto G10 Power
Motorola Moto G10 Power

9,999

Oppo F19 Pro Plus 5G
Oppo F19 Pro Plus 5G

25,990

Oppo F19 Pro
Oppo F19 Pro

21,490

Xiaomi Redmi Note 10 Pro Max
Xiaomi Redmi Note 10 Pro Max

18,999

Xiaomi Redmi Note 10 Pro
Xiaomi Redmi Note 10 Pro

15,999

Xiaomi Redmi Note 10
Xiaomi Redmi Note 10

11,999

Realme Narzo 30A
Realme Narzo 30A

8,999

Realme Narzo 30 Pro
Realme Narzo 30 Pro

16,999

Infinix Smart 5
Infinix Smart 5

7,199

Samsung Galaxy F62
Samsung Galaxy F62

23,999

Samsung Galaxy A12
Samsung Galaxy A12

12,999

Nokia 5.4
Nokia 5.4

13,999

Nokia 3.4
Nokia 3.4

11,999

Realme X7 Pro 5G
Realme X7 Pro 5G

29,999

Realme X7
Realme X7

19,999

Vivo Y31
Vivo Y31

16,490

Oppo Reno5 Pro 5G
Oppo Reno5 Pro 5G

35,990

Samsung Galaxy S21 Ultra 5G
Samsung Galaxy S21 Ultra 5G

1,05,999

Samsung Galaxy S21 Plus 5G
Samsung Galaxy S21 Plus 5G

81,999

Samsung Galaxy S21 5G
Samsung Galaxy S21 5G

69,999

Vivo Y12s
Vivo Y12s

9,990

Vivo Y51A
Vivo Y51A

17,990

Samsung Galaxy M02s
Samsung Galaxy M02s

8,999

Xiaomi Mi 10i
Xiaomi Mi 10i

21,999

Oppo A15s
Oppo A15s

11,490

Tecno Spark 6 Go
Tecno Spark 6 Go

8,499

Vivo V20 2021
Vivo V20 2021

24,990

Vivo Y20A
Vivo Y20A

11,490

Xiaomi Redmi 9 Power
Xiaomi Redmi 9 Power

11,999

Motorola Moto G9 Power
Motorola Moto G9 Power

11,999

Motorola Moto G 5G
Motorola Moto G 5G

20,999

Vivo V20 Pro
Vivo V20 Pro

29,990

Xiaomi Mi 10T
Xiaomi Mi 10T

35,999

Xiaomi Redmi 9i
Xiaomi Redmi 9i

8,299

Xiaomi Mi 10T Pro
Xiaomi Mi 10T Pro

39,999

Infinix Hot 10
Infinix Hot 10

9,999

Vivo V20 SE
Vivo V20 SE

20,990

Vivo V20
Vivo V20

24,990

Micromax In 1b
Micromax In 1b

6,999

Micromax In Note 1
Micromax In Note 1

10,999

OnePlus 8T
OnePlus 8T

42,999

Samsung Galaxy F41
Samsung Galaxy F41

15,499

Apple iPhone 12 Pro Max
Apple iPhone 12 Pro Max

1,29,900

Apple iPhone 12 Pro
Apple iPhone 12 Pro

1,19,900

Apple iPhone 12 Mini
Apple iPhone 12 Mini

69,900

Apple iPhone 12
Apple iPhone 12

79,900

Poco X3
Poco X3

16,999

Realme Narzo 20A
Realme Narzo 20A

8,499

Realme Narzo 20
Realme Narzo 20

10,499

Realme Narzo 20 Pro
Realme Narzo 20 Pro

13,999

Oppo F17
Oppo F17

16,990

Samsung Galaxy M51
Samsung Galaxy M51

22,999

Poco M2
Poco M2

10,999

Oppo F17 Pro
Oppo F17 Pro

22,990

Realme 7 Pro
Realme 7 Pro

19,999

Realme 7
Realme 7

14,999

Best Sellers