Now Reading: Uber-Rapido India merger talks collapse over control
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Uber-Rapido India merger talks collapse over control
Uber and Rapido discussed merging their India ride-hailing businesses in May during Uber CEO Dara Khosrowshahi's visit, but talks broke down over how to structure the deal. Uber wanted a combined entity…
The Story in Brief
Uber and Rapido discussed merging their India ride-hailing businesses in May during Uber CEO Dara Khosrowshahi's visit, but talks broke down over how to structure the deal. Uber wanted a combined entity run by Rapido’s management, while Rapido countered with a cash-and-stock acquisition that would leave Uber a minority stakeholder. Uber refused to cede control or exit India, sources told Economic Times. Rapido has denied the report. An Uber-Rapido tie-up would have united two of India’s largest mobility platforms; Rapido leads the overall market with 50% share, while Uber holds 40-45% in four-wheelers.
Mamaearth parent Honasa Consumer posted a record Rs 90 crore profit, up 116.5% year-on-year. FirstCry reported 13% revenue growth and 34% lower losses. Amagi’s quarterly net profit surged eight-fold to Rs 34 crore.
The Indian Opinion
Media breathlessly reports failed merger talks as if a done deal; Rapido’s prompt denial reminds us how easily speculation becomes fact. The narrative that only a combined Uber-Rapido could survive ignores that Rapido raised $240 crore in May and Uber is expanding bike taxis to 100 more cities. Both are investing aggressively, not retreating. The real test: will Uber’s four-wheeler dominance or Rapido’s two-wheeler lead force one side to blink first on pricing?
Sources (3): economictimes.indiatimes.com, economictimes.indiatimes.com (2), inc42.com
This story was synthesised by AI from the 3 sources linked above.
Updated: this story now draws on 3 sources.
