Uber to Shift Focus on Profitable Markets Including India | CORPORATE ETHOS

Uber to Shift Focus on Profitable Markets Including India

By: | August 18, 2018
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Aug 18: Cab aggregator Uber will remain committed to markets like India where it has seen its foothold expanding. Company CEO Dara Khosrowshahi has been quoted as telling investors that it will be eyeing to cement its leadership position in countries including India and those in the Middle East.

Uber has valued India among other countries to be of high potential. The company’s affirmation of its commitment in the said markets now hints for a more robust investment for the regions. Uber has been seen investing heavily in the country along with dedicated and exclusive services for the Indian market.

At present, Uber is betting big on its ride-hailing app as well as Uber Eats, a platform dedicated for food deliveries from restaurants. Investment can be expected heavily on these platforms. Besides, Uber will also have attention over expansion of services like Express Pool, e-bikes and scooters. Going by the words, Express Pool services of Uber would be the next service to be launched in India.

Emerging businesses of the company like freight are also going to get some big attention in the coming days as revealed by Khosrowshahi. However, it needs to be seen whether Uber will be aggressively pushing for the launch of such services in markets like India and Middle East.

It’s interesting to note that Uber have started retreating from markets where it has failed to grab grounds. Those include regions including China, Russia and other South Asian countries. This has also helped the company dilute its focus upon markets where it’s making profit, and also on emerging markets where the company believes to succeed.

Khosrowshahi also spoke about the expansion of its finances during the quarter.  The company had a net revenue of $2.7 billion during the quarter ended June 30, 2018, which is up by 50% of its net revenue during the same quarter the previous year.