Sources close to the development confirmed that while talks between Uber and Ola have been on for the past twelve months or so, they have gathered intensity in the past few days. They said that Ola will acquire the Indian unit of Uber, but the finer details of the deal, which could be disclosed in the coming months are still being discussed.
i don't think it would hurt them much. people dependent upon uber/ola have no other alternative. and uber these days is charging as much as 30% commission on all rides which is insane. drivers are struggling to make livable income so they have a ready excuse to start charging more. this is basically just market correction.Once they raise the prices, uses will drop.
SoftBank is now Uber's largest shareholder as deal closesPower struggles have been fierce - an early and large investor, Benchmark Capital, sued in August to force co-founder and former CEO Travis Kalanick off the board. Meanwhile, Uber has been struggling with controversies including federal criminal probes, a massive data breach and a lawsuit claiming trade-secrets theft.
SoftBank also has stakes in China ride-hailing app Didi, India’s Ola and Southeast Asia’s Grab, all of which compete with Uber in the region.
The Financial Times first reported Misra’s comments earlier Thursday.
SoftBank had no trouble drumming up interest among shareholders, as many investors and employees were unable to sell as many shares as they would have liked because SoftBank had put limits on how much it would buy.
Nah, majority of rides today are just one off rides, not regular ones like office going people. If rates increase, people will just go back to other modes like autos and buses apart from few people who cant leave uber. that would mean more drivers are empty without rides so they cant make enough money so they cant pay off their car so they'll riot. so more bad press for uber. wonder what will happen..i don't think it would hurt them much. people dependent upon uber/ola have no other alternative. and uber these days is charging as much as 30% commission on all rides which is insane. drivers are struggling to make livable income so they have a ready excuse to start charging more. this is basically just market correction.