Uber CEO Says No Change in India Business After SoftBank Deal

Uber CEO Says No Change in India Business After SoftBank Deal

Uber Technologies does not expect any change in its India operations following an investment deal with Japan’s SoftBank, which also has a stake in the US firm’s India rival Ola, Uber’s chief executive said on Thursday.

India is one of Uber’s fastest-growing international markets and accounts for more than 10 percent of Uber’s trips globally, but it’s not making money yet, Dara Khosrowshahi told reporters in New Delhi, his first visit to India since he became Uber CEO last year.

Both Uber and India’s market leader Ola are backed by SoftBank and have been locked in a fierce battle, pumping in millions of dollars of investors’ money for a bigger piece of the country’s $12 billion (roughly Rs. 78,000 crores) taxi market.

[“Source-gadgets.ndtv”]