Tata hails Uber to drive Neu traffic
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.
In recent times, Khosrowshahi has steered the cab aggregator into new areas such as grocery delivery and high-margin advertising as user numbers have ballooned to 150 million from 45 million seven years ago, when he took charge. Uber unveiled a $7 billion share buyback programme, its first, on Wednesday, days after reporting its first full year of operating profit, making it the latest Silicon Valley company to step up returns to shareholders.
Also read | Tata Sons to invest $1 billion more in digital arm
Tata Motors had signed an
