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Domino theory: Uber in Asia
The ride-hailing firm’s newish boss, Dara Khosrowshahi, is visiting India for the first time as part of an Asian tour. The competitive landscape will prove as tricky tonavigate as Delhi’s potholed roads.
SoftBank, the Japanese investment group which recently took a large stake in Uber, is also the biggest shareholder in Ola, Uber’s arch-rival in India. (Tencent, another Ola investor, backed Didi Dache, to which Uber eventually capitulated in China.)
SoftBank seems keen for Mr Khosrowshahi to focus on established Western markets and not burn yet more cash trying to beat rivals in faraway places. Reports suggest Uber may be retreating from South-East Asia by merging with Grab, a local rival also backed by SoftBank.
Might India be next? Ola seems to have pulled ahead. If Uber cabs had passenger seatbelts in India—most don’t—now would be the time to fasten them.
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