Uber stated on Thursday it has by no means explored exiting India, a key abroad marketplace for a number of tech giants, dismissing a declare that it has had held discussions to promote the native unit.
Bloomberg reported earlier within the day that the San Francisco-headquartered agency had explored promoting the India enterprise, however “suspended discussions after tech startup valuations cratered.”
In an announcement, an Uber spokesperson stated the information outlet’s reporting was “categorically false.”
“We’ve by no means explored exiting India—not even for a minute. India is as necessary to Uber immediately because it was after we launched 9 years in the past. We’re serving riders and drivers throughout greater than 100 cities, hiring Indian expertise aggressively, and planning for the following decade and past,” the spokesperson added.
Uber, whose shares like these of many different tech corporations have tanked in latest quarters, competes with SoftBank-backed Ola in India. Each Uber and the Bengaluru-headquartered startup, valued at about $7.3 billion, declare tentpole place within the nation.
Ola seems to have shifted at the very least some focus away from the ride-hailing enterprise to manufacturing and promoting electrical automobiles in recent times.
Uber chief government Dara Khosrowshahi informed staff final month that the agency is concentrated on reaching profitability. The agency, which isn’t worthwhile in India, in response to an individual accustomed to matter, offered the India unit of Uber Eats to meals supply agency Zomato in early 2020.
An Uber spokesperson didn’t instantly reply to a request for remark about its India funds.