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Online cab-hailing firm Uber now at 20 Indian Airports, to make Travel a better experience

Visitors from over 70 countries have used Uber in India while Indian travellers are using their Uber app most frequently in the US

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App-based Cab Uber. Wikimedia

New Delhi, December 23, 2016: Online cab-hailing firm Uber on Friday announced that it will focus on improving the airport travel experience for both riders and driver partners in India.

“Uber is now available at all of the top 20 airports in India and at more than 200 airports globally, with presence at almost all major US and European airports,” said Amit Jain, President, Uber, India and South Asia in a statement.

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“Visitors from over 70 countries have used Uber in India while Indian travellers are using their Uber app most frequently in the US, followed by United Kingdom, Singapore, United Arab Emirates and Malaysia,” Jain added.

As part of its “UberSHAAN” initiative, Uber last week urged ex-servicemen in India to avail entrepreneurship opportunities with the company as driver partners.

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Uber has partnered with Ministry of Defence to facilitate interested personnel join the Uber platform as driver entrepreneurs.

“UBERSHAAN programme is all about empowering these individuals to support their families and provide an opportunity for people to get to know India’s veterans better,” Uber founder and CEO Travis Kalanick told reporters during his Delhi visit.

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This year, the company launched Uber in two new cities — Lucknow and Ludhiana — and expanded “uberPOOL” to four new cities — Mumbai, Kolkata, Hyderabad and Chennai. (IANS)

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Ride-hailing Giant Uber Files for IPO, Says ‘May Never Make Profits’

According to market sources, the company may provide a price range for its shares later this month and would go public in May

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Uber, bengaluru
Photo shows an exterior view of the headquarters of Uber in San Francisco. (VOA)

Global ride-sharing major Uber has warned in its IPO filing that the company may never make profits as its operating expenses are likely to increase “significantly in the foreseeable future”.

The company filed for its Initial Public Offering (IPO) on Thursday and would be listed on the New York Stock Exchange (NYSE) under the symbol “UBER”.

“We have incurred significant losses since inception, including in the United States and other major markets. We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability,” the company said in the “S-1” form or the IPO Prospectus submitted to the Securities and Exchanges Commission.

It further said that to remain competitive in certain markets, it has lowered the fares in the past and may continue to offer “significant driver incentives and consumer discounts and promotions”.

Uber app.

The decade-old company also warned that it may fail to develop and successfully commercialise autonomous vehicle technologies and expected that its competitors would develop such technologies before it.

“Such technologies may fail to perform as expected, or may be inferior to those developed by our competitors,” said the company in the IPO Prospectus.

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The company noted that as of December 31, 2018, it had 91 million or 9.1 crore monthly active platform users. There were 3.9 million or 39 lakh drivers on the platform by the end of 2018.

According to market sources, the company may provide a price range for its shares later this month and would go public in May. (IANS)