Zomato has been a great bet, happy with the growth of the model and continued to gain share: CEO of Uber


Uber CEO Dara Khosrowshahi said the company’s partnership with Zomato was a “big bet” and he is delighted with how the model has grown, continued to gain share and its success. successful IPO.

Khosrowshahi said Uber is seeing an increase in demand as cities open up after COVID-induced closures, and also expects the shortage of drivers to decrease.

“ The Indian food delivery market has been incredibly competitive and really partnering with Zomato was a bet on Deepinder Goyal, the founder and CEO (CEO) there and I would say it has been a great bet and certainly one that we’re very happy with the way the model has grown, the way the model has continued to gain share, and obviously the incredibly successful IPO, ”Khosrowshahi said in an interview with CNBC-TV18.

In 2020, Zomato announced the acquisition of Indian company Uber Eats as part of an all-share deal that gave Uber a 9.99% stake in India’s delivery platform. food and restaurant discovery. Speaking about the ridesharing business, the senior executive said the company feels quite confident based on the models.

“… what we see regularly now is that cities are opening up, globally our mobility business continues to improve. There are many countries where mobility is actually higher than pre-pandemic levels and areas where it is lower, it is constantly progressing in the right direction, ” he said. He added that while the mobility industry is the company’s profit engine, it has also seen explosive growth in the delivery industry.

“It is more important than our mobility business in terms of turnover, the heart of the food delivery business is now profitable. We are now investing in groceries and other categories as well. So as a company we really hit all the drivers. And as the world opens up, we have a very, very strong perspective ahead of us, ”he said.

Khosrowshahi noted that Uber recently started operations in the country’s 100th city of Warangal.

” … we will continue to invest and open new cities. It remains to be seen whether we will hit 200 in a year or two. It depends on the dynamics of the market, ”he said.

He added that the focus on India is to ensure that Uber service is available to a higher percentage of the population and to expand the service – four-wheelers, two-wheelers, three-wheelers, as well as the introduction of products such as rental and long distance transport.

Asked about the driver shortage situation, Khosrowshahi said this is common around the world.

“… demand is also increasing and it is increasing very rapidly as cities open up. So we need to increase the number of drivers faster than we increase drivers, and that’s quite a challenge. But we are doing it right now. So you should see in the fourth quarter of next year the driver shortage easing, more people earning income on the Uber app, and the magical experience of pushing a button and taking that commute when you are. wish, ”he added.

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)