The Indian unit of San Francisco based taxi aggregator Uber has posted a four-fold jump in revenues in its third year of operations in the country. India has now become the second largest market for Uber after US
According to a report in Economic Times Uber India Systems, which provides marketing and support services to Uber, posted a 442% jump in its revenues for the year ended March 2016 at `374 crore against `69 crore in the previous year
The Uber has been making massive investments in India for the last two years. Uber India, is now operating in 30 cities in the country. It has added 6-7 more locations in the current financial year. The company said it dont have any plans to spread more cities as of now. And the company is making efforts increase the service in cities where it is operating.
Main rival of Uber, Ola is operating in about 100 cities across the country. Ola, which has raised more than $1 billion in investments and counts China’s Didi Chuxing, Tiger Global and SoftBank among others as its investors. After Uber exited from China by selling its China operations to Didi Chuxing, it has publicly stated its intention to increase focus on India. Last year,