Uber claims it handled over 50% rides in India | Tech News

Uber claims it handled over 50% rides in India

In the report, the cab-hailing company also said that it maintained number one position in almost every major market where it operates, which includes the US, Europe, Australia, Middle East and India among others.

By: HT CORRESPONDENT
| Updated on: Aug 20 2022, 19:21 IST
Uber recently announced its quarterly earnings report.
Uber recently announced its quarterly earnings report. (AP)

Uber recently announced its quarterly results for the fourth quarter of 2019. The company published a report on the sidelines of its quarterly earnings call wherein the company claimed that it handled over 50 percent cab rides in India.

In the report, the cab-hailing company also said that it maintained number one position in almost every major market where it operates. The list includes the US, Canada, Europe, Australia, New Zealand and Middle East where it claims to handle over 65% rides and India, where, as mentioned before, it claims to handle over 50% rides.

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The cab hailing service also claims to have facilitated 14 million rides in a week last year, a report by TechCrunch claims. By comparison it handled 11 million rides a week in India a week in 2018, the report added.

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Separately, Uber recently sold its UberEats business in India to Zomato for $350 million. In exchange the company got a 10% stake in the Gurugram-based food delivery app. Uber in its quarterly earnings report said that its gross bookings grew $4.0 billion year-over-year to $18.1 billion and Rides and Eats grew 20% and 73% year-over-year, respectively.

"Zomato, a popular food app in India, acquired our food delivery business in India, in-line with our strategy to focus on markets where we can achieve a leading position. Eats ANR take rate would have been 10.1% in Q4 2019 excluding the impact of Uber Eats in India," Uber wrote in its blog.

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First Published Date: 09 Feb, 14:29 IST
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