Uber Technologies Inc (NYSE:UBER) has today reported that it is performing quite well in India’s ride-hailing market. The business guru outlined that it had taken over almost 50% of the ride-hailing market in the country. This company outlined that it was also showcasing outstanding performance in other regions as well.
Uber speaks out on its business performance
This publicly-traded company expresses great confidence in its internal estimations. Back in 2018, reports showed the business guru reaching about 11 million rides in a particular week, which is massive success.
Business analysts have termed the recent revelation an interesting one outlining that there are a few things that are not adding up. For instance, the company and also its leading rival Ola has been behaving suspiciously in recent times. They seem to be evading geared towards making them open up about the number of rides they are conducting in India.
A close outlook at matters
It was in a blog post published in 2018 that Ola made some interesting revelations. It outlined that its platform had gotten to a point where it would move almost two million persons daily. A spokesperson working with Indian startup declined to showcase figures related to the performance it claimed to have. Surprisingly, it made strong claims that it was indeed the biggest of all the mobility platforms in India.
No one is disputing the point that Ola is the biggest mobility platform in the country. However, its strange reaction to questions is leaving a lot a lot of unanswered questions and suspicion. It operates a network of almost 2.5 million drivers who move about 200 million customers to different destinations. Its offerings range from two, three to the four-wheelers as was disclosed by an insider.
It was a year ago that Uber took to the sale of Uber Eats’ which happens to be a food delivery service in India. It struck a deal with its business competitor Zomato which agreed to pay a total sum of $180 million. Analysts had expressed their views regarding the deal outlining that it was meant to get the business to its feet.
Uber’s spokesperson has outlined the company’s plan to expand its business operations. He outlines that they will soon be expanding their services to about 50 Indian cities.