Caught between the crossroads of Technology making travel smart and obsolete regulations are Uber India & Ola Cabs. Nexensus reports what Uber stands to stake if it loses its foothold in INDIA.
Uber International Holding BV the Dutch holding company of Uber India has invested Rs. 1220 Million in the company in March 2015. Uber International owns 100% stake in Uber India.
This investment seems miniscule against the Rs. 16244 Million investment raised by OLA Cabs in 2015 from various PE firms including DST Asia (Mauritius) , Vangaurd World Fund (America), Internet Fund (Singapore), Tiger Global (Mauritius) and Lathe Investment ( Singapore).
In 2015, Uber India reported profit of INR 32 Million and its EPS jumped from Rs. 14 in 2014 to Rs. 195 in 2015. While OLA’s bottom line continues to grow in the Red.
It looks like Uber has clearly emerged as the preferred cab service be it online or offline. More than 50% of Indias population is youth and to appeal to them, Tech Innovation is clearly the way to go.
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