Dara Khosrowshahi News

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The battle for market share in India’s ride hailing industry between American giant Uber and homegrown Rapido has intensified, even as the once-dominant position of the country’s first major ride-hailing service—Ola Cabs—steadily erodes.In a bid to bulk up its financial firepower, Uber has pumped nearly ₹3,000 crore into its India unit in recent months to take on the challenge from Bengaluru-based Rapido, which entered the current fiscal year with a stronger cash position and has rapidly gained market share.The Indian unit of US-based Uber Technologies Inc got ₹2,721 crore in January from Uber BV, the Dutch arm of Uber, following a ₹200-crore investment made in November, according to a Mint review of the financials filed with the ministry of corporate affairs (MCA).On the other hand, Rapido received ₹125 crore funding in FY26 from Nexus Ventures. Its last significant capital round was a $200-million series E raise in 2024 led by WestBridge Capital, which made it a unicorn (startup with a billion-dollar valuation).However, Rapido ended last fiscal (FY25) with ₹345 crore free cash in hand, while Uber had ₹292 crore, MCA data showed.Experts note that in the ride hailing business, higher cash in hand of companies can help in incentivising drivers and customers, which in turn will help in defending market share.The buildup of cash reserves by the two rivals signals that the ride-hailing war between Rapido and Uber is entering a new phase, a fact underscored by Uber’s chief executive Dara Khosrowshahi last year.

Tesla chief Elon Musk has declined an offer from Uber to collaborate on autonomous vehicles, Uber chief executive officer (CEO) Dara Khosrowshahi has revealed. During a recent interview, Khosrowshahi said that the Tesla CEO rejected the cab-hailing service’s proposal to partner in its robotaxi programme. He cited his conversation with Musk to assert that Tesla is determined to develop its autonomous vehicle project independently.

Donald Trump’s inauguration this month, the latest sign that the industry is trying to bolster its relationship with the president-elect ahead of his return to the White House. OpenAI chief executive officer (CEO) Sam Altman plans to go to the swearing-in ceremony on JanU 20, said a company spokesperson. Meta Platforms Inc. CEO Mark Zuckerberg also plans to go to the event, according to a person familiar with the matter, who spoke on condition of anonymity to discuss private information. A spokesperson for Meta declined to comment. Uber Technologies Inc. CEO Dara Khosrowshahi will be at some of the surrounding festivities, according to the company. Uber also plans to host an inauguration party in Washington with Elon Musk’s X social media firm and The Free Press, a media company.

Uber Technologies and its CEO Dara Khosrowshahi each donated $1 million to U.S. President-elect Donald Trump's inaugural fund, a company spokesperson told Reuters on Tuesday. The ride-hailing firm joins a list of several large businesses that have sought to build a positive relationship with the incoming Trump administration after he won the election in November. The donations by Uber and Khosrowshahi were first reported by The Wall Street Journal earlier in the day.

shares up 5% on Tuesday. With more people returning to offices and stepping out of their homes, ride-sharing demand has got a boost in the past several months, benefiting companies such as Uber and rival Lyft.

Uber has more than 1 million drivers in India, chief executive Dara Khosrowshahi said during the ride-hailing platform’s March-quarter earnings call. India is the third country behind the US and Brazil to reach the 1-million-driver mark.

Uber forecast second-quarter gross bookings below expectations after missing the target for the first three months on Wednesday, signaling weakness in its ride-share and food delivery services. The company's profitability push, however, is yielding result as core profit for the first quarter and its forecast exceeded Wall Street expectations.

Adani group is planning to foray into the cab service space with electric vehicles in partnership with Uber, multiple people aware of the negotiations told ET. Billionaire Gautam Adani and Uber CEO Dara Khosrowshahi last week discussed the strategic alliance whereby Adani Group is looking to become a fleet operator by purchasing and listing hundreds of electric four-wheelers on Uber, the sources said.

The February 24 meeting between Indian business tycoon Gautam Adani and Uber's CEO Dara Khosrowshahi hosted a part of discussions for a strategic partnership between the two majors for rolling out the Adani group's electric passenger vehicles on the ride hailing platform. The collaboration aims to increase the conglomerate's super app Adani One's traction. Adani One, launched in 2022, provides a range of services, including booking flights, vacation packages, airport services, and may further help with taxi bookings with Uber integration.

Dara Khosrowshahi. In an interview with the Economic Times, the executive shared insights into the company's investment strategy in India, its focus on mobility, profitability, the electric vehicles (EV) business, and differences in his management style compared to Uber's founder Travis Kalanick. Reflecting on the founder vs.

Khosrowshahi at the Davos, he did not think that the CEO will stay at Uber for long, or that the company would survive for long. Taking to the microblogging website, X (formerly Twitter), the Mahindra Group Chairman said that Uber today is profitable with a market capital of $170 billion and has a disciplined corporate culture. He wrote: “I first met @dkhos in Davos shortly after he had taken the helm at @Uber.

Anand Mahindra recently met Uber CEO Dara Khosrowshahi during the latter's visit to India. Mahindra shared his thoughts on their meeting on X (formerly Twitter), recalling their initial encounter at Davos a few years ago. At that time, Mahindra said he had harbored doubts about Khosrowshahi's tenure at Uber and the company's longevity. Reflecting on their conversation, Mahindra stated, «I must confess that I wondered how long he would stay at the company & indeed, how long Uber would survive.» However, Mahindra acknowledged the significant transformation that Khosrowshahi has led within Uber since then. He commended Khosrowshahi for steering the company towards profitability and cultivating a corporate culture focused on discipline and efficiency. Mahindra noted that Uber's market capitalization has soared to around $170 billion, illustrating the success of Khosrowshahi's leadership. Mahindra expressed his pleasure at reconnecting with Khosrowshahi, whom he described as having the «Midas Touch.» In response to Mahindra's post, Khosrowshahi expressed his appreciation for the opportunity to meet Mahindra again. He praised Mahindra's leadership style, emphasizing the importance of values and purpose in driving success. Khosrowshahi attributed the accomplishments to the entire team at Uber, highlighting their collective effort in achieving milestones.

Tata Group's ambitious project of being the sole leader of the super app race by investing over $2 billion has been marred with leadership issues, stagnation in user growth and low customer engagement. In a bid to revive its position, Tata Group’s digital arm has initiated conversations with Uber for a strategic partnership to increase traffic and revenue, ET has reported recently. Dara Khosrowshahi of Uber Technologies and N. Chandrasekaran of Tata engaged in talks during a meeting in Davos earlier this year, with expectations of further discussions in Mumbai during Khosrowshahi's upcoming visit to India, said executives aware of the matter to ET. With Neu, launched in 2022, the Tata Group aims to increase its share in the country’s e-commerce market which is expected to be world's second-largest by 2034, with an anticipated annual gross merchandise value of $350 billion by 2030. Currently, India’s first super app faces competition from e-commerce giants like Walmart-owned Flipkart, Amazon India and Reliance Industries’ Jio Mart.

Longtime money-losing ride-share companies Uber Technologies and Lyft have surprised naysayers by doing what many thought was impossible: racing toward steady profits. 2023 marked Uber’s first year of being profitable as a public company. Uber put more gas in its tank Wednesday after it outlined better long-term financial goals during its investor day.

Tata Neu, positioned as a 'super app.' However, Tata Digital denies any ongoing talks, and Uber has not responded to queries. Tata Neu, part of Tata Digital, aspires to cater to 50% of an average customer's daily, monthly, and annual needs. However, it faces challenges such as stagnation in user growth and low customer engagement.

Tata Group has initiated discussions with Uber Technologies to forge a strategic partnership with an aim to bump up traffic volumes and engagement on Tata's digital platform, said people with knowledge of the matter. The collaboration could entail integrating Uber's services as an 'anchor app' within that ecosystem. Tata Neu, positioned as a 'super app', has encountered challenges, including stagnation in user growth and low customer engagement, said people aware of the matter. Uber Technologies CEO Dara Khosrowshahi met Tata Sons chairman N Chandrasekaran in Davos earlier this year and they're expected to talk again in Mumbai during the former's upcoming India trip to discuss the broad contours of a potential alliance, executives aware of the matter said. The exact terms of engagement are still being worked out and there's no guarantee it will lead to anything concrete. Tata Digital, which runs Tata Neu, denied that any talks are ongoing. Uber did not respond to ET's queries.

Uber Technologies shot to a record high on Wednesday after announcing its first-ever buyback of $7 billion worth of company shares after a strong recovery in ride-share revenue and healthy demand in its food delivery business. The company posted its first annual net profit last week since it went public in 2019. Uber executives said they expect to make buybacks consistent over time.

By Akash Sriram

Uber chief executive Dara Khosrowshahi has declared pay laws will not hold the gig economy giant back. It can even cope with European markets where drivers are employees, Mr Khosrowshahi told investors on an earnings call overnight.

By Yuvraj Malik