ET BureauUber is not fazed by the regulatory environment here, the chief executive officer of the world’s most valuable startup said, predicting that India could be the second-largest market for the company in time to come.
“India is our third-largest country behind US and China and it’s growing pretty fast,” Travis Kalanick said in his first interview to Indian media. “Based on sheer number of people, over time, it could be possible that India surpasses one of them.”
Uber, which made its India debut in 2013 and is now present in 22 cities, has been having a bumpy ride, not unlike other cab aggregators. Besides problems relating to licensing norms and payments, Uber has had to deal with a crisis that arose when a driver on its network allegedly raped a passenger in December 2014.
Read the full interview
“I don’t feel India has been particularly frustrating compared to other places in the world,” said Kalanick, whose firm was valued at $51 billion(Rs 3.3 lakh crore) at its last round of fundraising in July. “India has been open to this kind of innovation and technology that’s why we exist in so many of India’s great cities.” Uber’s main rival in India is Soft-Bank-funded Ola, which is also the market leader. China’s leading cab aggregator Didi Kuaidi, also funded by SoftBank, is predicted to invest in Ola, signalling a joining of forces by the Asian firms to take on Uber.
Kalanick, who founded two startups before he hit the big time with Uber, indicated that competition would not upset his sang-froid. “Competition makes us better. In terms of competitors investing in other ones, it’s not what we do but that doesn’t bother us,” he said. Kalanick said Bengaluru, along with Beijing and Bay Area, is going to be one of the great global centres of starting up and tech innovation.
“India is our third-largest country behind US and China and it’s growing pretty fast,” Travis Kalanick said in his first interview to Indian media. “Based on sheer number of people, over time, it could be possible that India surpasses one of them.”
Uber, which made its India debut in 2013 and is now present in 22 cities, has been having a bumpy ride, not unlike other cab aggregators. Besides problems relating to licensing norms and payments, Uber has had to deal with a crisis that arose when a driver on its network allegedly raped a passenger in December 2014.
Read the full interview
“I don’t feel India has been particularly frustrating compared to other places in the world,” said Kalanick, whose firm was valued at $51 billion(Rs 3.3 lakh crore) at its last round of fundraising in July. “India has been open to this kind of innovation and technology that’s why we exist in so many of India’s great cities.” Uber’s main rival in India is Soft-Bank-funded Ola, which is also the market leader. China’s leading cab aggregator Didi Kuaidi, also funded by SoftBank, is predicted to invest in Ola, signalling a joining of forces by the Asian firms to take on Uber.
Kalanick, who founded two startups before he hit the big time with Uber, indicated that competition would not upset his sang-froid. “Competition makes us better. In terms of competitors investing in other ones, it’s not what we do but that doesn’t bother us,” he said. Kalanick said Bengaluru, along with Beijing and Bay Area, is going to be one of the great global centres of starting up and tech innovation.
(Catch all the Business News, Breaking News, Union Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
(Catch all the Business News, Breaking News, Union Budget 2024 Events and Latest News Updates on The Economic Times.)
Subscribe to The Economic Times Prime and read the ET ePaper online.
Get Unlimited Access to The Economic Times
