On Thursday, Uber said it had never explored exiting India, a key overseas market for several tech giants, dismissing a claim that it was in talks to sell a local unit.
bloomberg informed Earlier in the day, the San Francisco-headquartered firm explored the possibility of selling the business in India, but “put the discussion on hold after valuation of tech start-ups dropped.”
In a statement, an Uber spokesperson said the news outlet’s report was “categorically false.”
“We never explored getting out of India — not for a minute. India is just as important to Uber today as it was nine years ago when we first started. We serve riders and drivers in over 100 cities, actively recruit Indian talent and plan for the next decade and beyond,” the spokesperson added.
Uber, whose shares, like those of many other tech companies, have tumbled in recent quarters, is competing with SoftBank-backed Ola in India. Both Uber and the Bangalore-headquartered startup, valued at about $7.3 billion, are vying for the top spot in the country.
Ola appears to have shifted focus in recent years from the business of hailing taxis to manufacturing and selling electric vehicles.
Uber CEO Dara Khosrowshahi told the staff Last month, the firm focused on achieving profitability. An unprofitable firm in India, according to a person familiar with the case, sold the Indian division of Uber Eats to food delivery firm Zomato at the beginning of 2020.
An Uber spokesperson did not immediately respond to a request for comment on his finances in India.
Credit: techcrunch.com /