Fri. Mar 29th, 2024
Uber Jaipur

Uber’s India unit, has reported a loss of INR 762.5 crore in food delivery for FY19, while the revenues were at INR 339 crore for ride-hailing segment, reported ET.

Now, Uber BV, a parent company of the ride-hailing unicorn Uber, has allotted INR 2,539 crore, along with business and individual user data to the Indian unit i.e Uber India Systems Private Limited (UISPL).

For details: Netherlands-based Uber BV pumps-in INR 2,539 cr, individual user data in Uber India to set up office

According to Uber, the negative revenues could be caused by commission revenues being lower than the cost of delivery, high refunds to consumers and UberEats paying restaurants for the food which they are not themselves giving discounts on those tracking.

Uber Technologies Inc. is an American multinational transportation network company (TNC) offering services that include peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system.

The company is based out of San Francisco and has operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps.

Nelson Chai, CFO at Uber, said that India is a market where it has a low or negative take rate (commissions it earns on deliveries), driving down margins for the business globally.

Some of the emerging startups that falls under the similar roof include OlaRapidoAHA TaxisInstacabSavaari, among others.

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