Tag: uber

Uber Files Leak: What Was Revealed, How Was It Leaked and Has Uber Changed?

The online and offline media headlines are screaming about the global ride-hailing platform Uber and its unethical practices over the years to emerge as a global leader.

On Sunday morning, the world woke up to shocking news of ‘The Uber Files’. Originally leaked to ‘The Guardian’ and ‘The Internal Consortium of Investigative Journalists’, it was a treasure trove of almost 124,000 documents. These documents showed just how the tech giant was able to expand with rapidity and the illegal and often violent techniques it resorted to achieve.

On Monday, the shockwaves continued as Mark MacGann, Uber’s former chief lobbyist for Europe, the Middle East and Africa, identified himself as the source of the leaked data. Seeking higher ground, he said – “It is my duty to speak up and help governments and parliamentarians right some fundamental wrongs. Morally I had no choice in the matter.”

About Uber
Business Model of Uber
What Do the Uber Documents Leak Reveal?
What Did and Did Not Change at Uber Post 2017?

About Uber

Founded as Ubercabs in San Francisco in 2009, by Garret Camp and Travis Kalanick, it came to be known as Uber Technologies, Inc. It is an American mobility service provider, allowing users to book taxis for transport via the Uber App.

Over the years, it has added various services like food delivery, package delivery, couriers, freight transportation, electric bicycle and motorized scooter through partnerships with various local operators.

Since 2013, Uber saw unprecedented growth across countries and emerged as the most popular ride-hailing company. In the fourth quarter of 2021 Uber had 118 million monthly active users globally and generated approximately 19 million rides a day.

Uber has received criticism for its treatment of taxi drivers, disruption of the taxicab businesses and an increase in traffic congestion. It has also been questioned about the low rates and heavy discounts it offers on its ride-share app, thus undercutting taxi drivers and forcing its partners to take lesser pay.

Unsurprisingly, Uber has reported losses of millions of dollars since 2014. In 2018, it exited markets in Russia, China and Southeast Asia in exchange for stakes in rival businesses.

Global Net Revenue of Uber

Business Model of Uber

Uber acts as the intermediary between cabs and riders. It does not own any vehicles, but partners with taxi owners and receives a commission for each booking. The dynamic pricing model of Uber is based on the local supply and demand at the time of the booking. This fare is quoted to the customer in advance.

What Do the Uber Documents Leak Reveal?

Uber has courted controversy since 2009, when it was founded, from violent conflicts among drivers to the use of secret software to evade law enforcement.

‘The Uber Files’ span a period of 5 years, from 2013 to 2017, when it was run by its controversial co-founder Travis Kalanick. Kalanick was forced out of Uber in 2017 following constant controversies including allegations of data breach and sexual harassment scandals.

Travis Kalanick, co-founder of Uber

The period of his reign at Uber is controversial and shows how he utilised that chaos to speed expansion. He spearheaded Uber’s expansion globally, albeit with illegal practices and lobbying with government heads to push through favourable laws.

Launch of Uber in Paris

In 2014, Uber launched in Paris – its first European launch. Kalanick established contact with Emmanuel Macron (President, France), who was then, the economy minister. Macron interceded on Uber’s behalf, even brokering secret deals with opponents in the cabinet, to help Uber operate undisturbed in Paris.

Entry into German Market

In 2014, the then mayor of Hamburg, Olaf Scholz (currently the German Chancellor), pushed against Uber lobbyists to ease the way for Uber to enter the German market.

Taking the help of Joe Biden

Kalanick had a meeting scheduled with the then, US Vice-President, Joe Biden at the World Economic Forum. The after effect of the meeting was an amended statement to his prepared speech at Davos when he referred to a CEO whose company would give millions of workers freedom to work as many hours as they wished and manage their lives the way they want to.

Kill Switch

Uber took extensive steps to save itself from authorities. In addition to lobbying with politicians and government officials, Uber had also installed a ‘kill switch’ which they activated to stop the authorities from accessing the company’s computers. The ‘kill switch’ was used in Amsterdam, Canada, Belgium, India, Romania, Hungary and France.

Endangering Drivers

Kalanick’s theory of embracing chaos included endangering drivers. Almost every market that Uber entered, triggered organised protests from taxi driver unions, that would sometimes turn violent. He mutely agreed to Uber drivers going to such protests. His ideology? “Violence guarantees success”.

The documents indicate Uber’s adeptness at finding unofficial routes to power. It shows a company that had a deliberate strategy of breaking or ignoring laws, and that it was very much aware of it.

The documents go on to reveal the role that lobbying and relationships with powerful politicians played in its global success. They also reveal that company executives were aware of the illegality of their entire operation.

Uber’s original idea of citizens driving citizens in their private cars without any permits or licenses mostly fell into a grey area legally.

Post 2017 – What Did and Did Not Change at Uber?

The chaos that Kalanick capitalized on has grown Uber to a USD 43 billion dollar company. However, soon after Kalanick was replaced by Dara Khosrowshahi accusations about the workplace culture and sexism seem to have stopped.

Dara Khosrowshahi, CEO of Uber

The company seems to have toned down its aggressive approach and now works with licensed drivers using specific permits. Despite all this, it faces multiple lawsuits regarding its employment strategies and its profitability remains in question.

Secondly, although it seems to now work in compliance, it does so only as little as necessary to get away from the attention of the authorities. They are not openly breaking rules anymore, but even its new business model remains close to its previous one. It continues to push for its preferred laws and regulations through courts or by finding legal loopholes.

Ola Success Story – Funding, Founders, Team, Revenue and more

Formerly known as Ola Cabs, Ola was founded in December 2010 by Bhavish Aggarwal and Ankit Bhatia. Here is the story of Ola, and how it all started for them!

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Conclusion

The details of the expose will continue to grow in the coming days as more details will be made public. What is learned from all this is that apps like Uber and many others promised innovation.

Instead, they brought out barely disguised models of corruption and exploitation. One can only hope that there are severe penalties for tech entrepreneurs who blatantly break and bend laws. Maybe it will act as a deterrent for future cons.

FAQs

What is the Uber leak?

Uber leak is a trove of 124,000 documents that show how the ride-hailing giant expanded its operations using illegal tactics.

Who leaked the Uber Files?

Mark MacGann, Uber’s former chief lobbyist for Europe, the Middle East and Africa came forward to take responsibility for the leaks.

July 14, 2022
How to Start a Cab Business With Uber & Ola in 2022?
Knowing your potential is not enough unless you act on it. You have always known you could be an entrepreneur but hesitated, doubted your capabilities?. Do not, because India has entered the age of free enterprise, private businesses if you have not already noticed.

World Bank has predicted 11+% GDP growth rate for India in Year 2021-22 far higher than any major world economy. Is it possible without the start-ups/entrepreneurial spirit? No, it is not. So why not dismiss your fears and be a part of India’s growth story.

Have you been dreaming to get into transport/cab business. This write-up covers everything you need to know.

Ola & UBER are two mega multi-national transportation companies of the world that though provide public transport but give the benefits & feel of a private transport to its commuters. That was the main motivation for people to choose their services and they succeeded in meeting their customers basic needs – Quick, cheap, ease & round-the-clock hassle free service that was.

Business Model of Ola and Uber
How to Start a Business with Uber?
How to Start a Business with Ola?
Things to Consider Before Starting business with Ola or Uber

Business Model of Ola and Uber

The fundamental business model of these cab aggregators is simple. That is connecting commuters (customers) seeking on-demand cabs with the company’s driver-partners through a company owned mobile app.

The company earns its revenue by way of commission or fees levied on each ride hailed. (Both these taxi services can be booked through their respective websites too.). So in how many ways can one do business with UBER and Ola. In addition, what is the process from start to finish. Let us find out.

How to Start a Business with Uber?

There are three Ways to Earn With Uber Drive Business:

Driver cum owner

You have a car, are willing to attach it with Uber and you also drive your own car.

Commercial driver under partner

You do not own the car but wish to drive under the Uber platform. You get to drive a vehicle owned by an Uber non-driving partner.

Note: You can even choose to drive a commercial auto-rickshaw or motorbike/scooter if that service is available in your city.

Non-driving partner

You own the car, attach it with the Uber platform without self-driving any but have to manage at least one driver.

There you go. Choose any of the three depending upon your resources and earning needs.

Step-by-Step Process

Step 1. Sign up on the Uber platform through its website, by entering your basic details like name, phone no, email, city.

Step 2. If you choose first or third option from above, you’ll land up on this page

If you choose the second option, you’ll land up on this page

Step 3. Now set up your account as directed i.e. by submitting all of the above document files online. If you do not have them online, click a picture from your mobile or scan it using a cam-scanner app and upload. You can upload all the docs in the same manner. It is much easier & faster than submitting hard copies by queuing up in the office.

Step 4. To Activate your account, Bring your car to a local green light hub. These hubs are locations in a city where you must bring your car for inspection and other things. Requirements vary by city, so sign up to know.

Step 5. Once your account is set up, you can look up all the necessary information you need to know about doing business with Uber. You can even get help by contacting their phone support number.

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How to Start a Business with Ola?

Number of Ola Driver-Partners in India

Three ways you can do business with Ola:

Partner with a Car

You have a car that you want to attach with Ola platform. You also drive your own car.

Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours. Additionally, be ready with these basic documents.

Benefits of this plan are:
- Choose your own working hours
- Choose from 100 cities to work in
- Daily payments 365 days a year
- Get a booking on your way home
- 24/7 helpline for support
Lease a Car

You know driving and need a car to drive. Ola provides you with a car without you having to worry about maintenance and insurance. Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.

Following documents are all you require to begin driving independently with Ola.

Other benefits you will derive with this plan:
- Get a car at zero risk
- Free accidental insurance of 2 lakhs
- Zero maintenance cost
- Drive a new car of your choice
- Two paid holidays each month
- 24/7 helpline for your support
Note: If you are an auto driver, you can also attach your auto by submitting the documents, downloading the app and start to drive with Ola.

Become a fleet operator

You own a fleet of cars and you want to attach it with Ola. You just need to track & control your fleet through specialised app.

Register yourself in less than a minute by entering your name, phone no. and your city. Ola team will get in touch with you within 24 hours.

Following basic documents are required. These are also the exact same documents you will need under option one i.e. to become a ‘partner with a car’.

Benefits under this scheme:
- Get detailed reports of total earnings
- Monitor driver logins and other trip details
- Live tracking of all your drivers and cars
- Get alerts like payments, logouts, etc.
- Check your fleet’s performance anytime
- Receive 24/7 phone support
Sure you will have further queries like ‘registration charge, initial payment if any to lease a car or two drivers for a single car’ etc. For this, you just have to visit the Ola Partner Portal.

Note: You can also attach your Rickshaw or Bike with Ola. To know more, visit the above web page & send your enquiry through a quick action tab.

Things to Consider Before Starting business with Ola or Uber

There is no definite answer but there is an answer definitely that can help you decide whether to do business with either/both of them or not. Here are two Factors to consider.

Profitability

You will surely get a ‘fare’ share of the rent but will you also get a ‘fair’ share? Is it profitable to attach car with Ola or Uber? To find an answer to this, you need to know the cost structure of both companies. Here’s the cost break-up if you rent a car:

According to the source site, you have to work 3-4 hours just to break even i.e. to earn enough to not make a loss. Therefore, in order to make any profit, you will need to work more than 3 hours a day.

And what if you attach your own car. You already have all the cost & pricing details, so just pick up a pen-paper and calculate your likely earnings, deducting all the costs.

This is a very crude analysis, which you can take as a starting point. However, it can certainly help you build a business/earning plan that suits your specific requirements.

Ease of operation & technological superiority

These two factors directly add to your job satisfaction. Consider each carefully. App features-wise & its daily payment feature make Ola look superior to Uber. Even though some may contest that Uber is cheaper in general.

However, according to user experiences, Ola & Uber fare differently in different cities. Hence, a ground study & research is the best approach before you decide to choose one of the two.

Conclusion

Both Ola & Uber have ambitious plans for the future. While Uber has a vision of becoming the top urban mobility platform, Ola is striving toward building mobility for a billion people. Whoa! Why dream small, right!

FAQs

Can I do business with Ola & Uber both?

Yes, you can do Cab business with both Ola and Uber.

Are there fixed work hours or timings for Cab drivers in Ola and Uber?

No, there is no fixed time or hours of business with either Ola or Uber. You can choose when & how much you want to work.

What are future service offerings of Ola & Uber?

For Uber few of the future business offerings could be electric scooters, bike-sharing & autonomous (driver-less) vehicles. Apart from its wide range of cab booking services, Ola plans to launch its own line of electric scooters via its ‘Ola electric mobility’ subsidiary.

Is putting the car in Ola profitable?

You can easily profit over Rs. 15,000 a month by giving car to Ola.

What percentage does Ola/uber take?

Both Ola and Uber take 25–40% of the amount as their commission.

How profitable is Uber business for drivers?

A driver can earn up to 35/40k a week.
May 11, 2022
A Complete Guide to Become a Successful Techpreneur
An entrepreneur is an individual who recognizes an opportunity, converts it into a product or service, determines receipts and profit, and produces a successful business with it. Now, the world is ruled by technology, and a new form of entrepreneurs has shown their ability to the world, they are known as techpreneurs.

A techpreneur starts with nothing but a concept. They challenge ongoing practices and systems and think of doing things creatively. They design a product or solution that uses the heft and capability of technology to improve the way something was traditionally done. They succeeded admirably. To be a techpreneur, certain skills are needed.

In this article, we will talk about the tips to be a successful technopreneur. So, let’s get right into the business.

Why Techpreneur Is the New Breed of Entrepreneurship?
Basic Techpreneural Skills
Tips to Become a Successful Techpreneur

Why Techpreneur Is the New Breed of Entrepreneurship?

Technopreneurship is a new class of entrepreneurship. It involves the development together of people who are driven, creative, tech-savvy, passionate, and has a desire for calculated risk. Unlike entrepreneurship– the success of Technopreneurship connects to how well the team functions together.
Technopreneurship is a costly exercise. It is not usually simple, and they have to endure, direct, and motivate their team, seek people with the funds, pitch their idea, and make them join organizations. It is here that their past work experience and network become beneficial.

Basic Techpreneural Skills

In addition to the entrepreneurial skills to be a successful technopreneur, some additional skills are required.

Full Tech Stack Knowledge

The tech stack is all the technologies utilized to deliver your commodity. While this can vary moderately based on the requirements of the startup, it usually means everything from a strong understanding of how the internet runs, to server technologies, scale factors, website knowledge, analytics, and code container administration — to name the primary points. Techpreneurs add exceptional value to the startup by assisting choose the beginning tech stack to be used to stand up the products.

Web Development

Each startup is going to require a web port of some kind. Whether the startup is going to launch e-commerce solutions, mobile applications, or some hardware-based output — being able to manage the website is a crucial job.
Startups tend to pay an immense amount of time on content, branding, and presentation of their sites. Technopreneurs can take this main project, and handle it while saving money and allowing other members to focus on their duties (thereby improving efficiency for the whole team).

Industry-Specific Technologies

Each tech startup has its novel technologies that they are going to be using. Depending upon the trade, there tends to be some specific tech that needs to be known so the product is produced in a way that consumers can use the final product. The best technopreneur for a startup will know the industry-specific technologies that the goods will have to work with and help make crucial decisions on the front end of product development.

Tips to Become a Successful Techpreneur

Interestingly though, successful techpreneurs across the business do share some characteristics and some best methods. Of those, some of the tips that are considered necessary to become a successful technopreneur are mentioned below.

Persistence

Techpreneur requires to be persistent. Every great idea will have simple beginnings, but it is only possible by unwaveringly seeking an idea and fleshing it out regularly that can one hope to actuate and convert it into a finished product. No matter how tough this route may appear, one needs to stay true to it. Having a positive attitude irrespective of the situation eases harvesting tools to take on the challenges.

Tech Savvy

Good techpreneurs need to have a broad technical grasp of their product and the underlying technology included. Even though it is usually the subject matter experts who will be developing the technology for the product, it will be your thought and understanding that will finally guide them.

Intuitive

A techpreneur should trust their intuition. To be successful, a techpreneur should be able to intuitively imagine and harvest unseen opportunities in such situations where the rest of the world only sees obstacles. Look beyond the obstacles and try to decipher what can be used for your business.

Belief

Firmly believe in your product. Be very clear about what unmet need you are striving to address. And be ready to step into uncharted areas to bring your product to life and make it grow. Having a risk-taking mindset assists techpreneurs well.

Communication

It is essential for a techpreneur to clearly and precisely communicate the intended value proposals to all stakeholders – the target clients, the investors, and the employees. Good communication saves time, effort, and money. Not only must one regularly communicate with people looking to invest and vet your concept, but also with your team looking to grasp at the more specific aspects of your product and achieve your vision.

Resilience with Flexibility

Experiencing failures is a part of entrepreneurship. There are so many inherent uncertainties that some setbacks are usually unavoidable. It is important is to learn from such experiences and take all measures not to replicate them. Overwhelmingly difficult situations do arise, and in such circumstances, it will be necessary to keep patience and self-control.

The Right Team

The team is fundamental to the success of the idea. Companies and corporations fall untimely losses by having unwise recruitment and team-building strategies. A techpreneur must invariably centre on building a team of experienced and hard-working people having complementary skills. The team members should have faith in the vision and capabilities of the techpreneur and should be willing to work for the greater good.

Quality

A successful techpreneur needs to guarantee that the products and services are of good quality. Also, they must be better than their competitors. Identify that consumers buy a product when they see value in it, which is only possible when the product offers more than what they pay for it.

Conclusion

Becoming a techpreneur demands constant dedication and hard work.
Despite the qualities and abilities, what many ambitious techpreneurs hardly realize is that becoming a techpreneur is not an end in itself. It is the beginning of an experience and a journey to savour and relish.

FAQs

Who is a techpreneur?

A techpreneur is an entrepreneur who starts and manages their own technology business.

What are the skills needed to become a technopreneur?
- Persistence
- Tech Savvy
- Intuitive
- Belief
- Communication
- Resilience with Flexibility
- Quality
- The Right team
Who is the No.1 entrepreneur in India?

Mukhesh Ambani is said to be the No.1 entrepreneur in India.
May 10, 2022
List of Companies Which Provides Work to Gig Workers of India
Gig employment has revolutionized the Indian economy in recent years, providing a large number of jobs for the population and adding to the country’s GDP in the long run. It is getting so popular that people are actively choosing gig work over regular work due to the convenience and flexibility of the job. Companies that recruit gig workers save money on office space, equipment, and other expenses, while workers enjoy flexible work schedules and the opportunity to do something they like and also earn more by doing multiple gigs.

Gig jobs were already popular before the pandemic, but since the COVID outbreak, many individuals who lost their normal employment have turned to gigs, which are very easy to find and offer an excellent opportunity to make money. More businesses are turning to gig workers in place of full-time staff, and their operational methods are shifting as a result. This allows them to hire more talent but at a lower cost.

Companies that provide gig jobs are expanding in India, and they are assisting a large number of people who are looking for work. We’ll take a look at a few of these businesses in this article.

List of Best Companies for GIG Workers
1. Flipkart
2. Urban Company
3. Bigbasket
4. Swiggy
5. Zomato
6. Amazon
7. Dunzo
8. PharmEasy
9. Ola Cabs
10. Porter
11. Uber
12. Mr. Right
13. Blinkit
About Gig Economy and Benefits and Challenges of Gig Workers

Flipkart

Flipkart – Gig Economy Company

Most of the gig workers working at Flipkart are delivery service people. Founded in 2007 by Sachin Bansal and Binny Bansal, the e-commerce giant connects sellers to the consumers and delivers the products to the customers. Flipkart also provides training to its supply chain employees and provides them with all the gear necessary for the job.

Urban Company

Urban Company – Gig Economy Company

Urban Company is an on-demand home service platform that allows consumers to access a variety of services from the comfort of their own homes. Urban Company currently has 35,000+ skilled professionals providing 7,50,000+ services each month, as well as having a worldwide presence in four countries.

Bigbasket

Bigbasket – Gig Economy Company

Founded in 2011, Bigbasket is an online grocery delivery service that brings goods to your home once you place an order. The company employs roughly 35,000 people across 30 Indian cities, a large percentage of which are delivery drivers.

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Swiggy

Swiggy – Gig Economy Company

Swiggy is an online food delivery service that brings food right to your door. Founded in 2014, Bangalore-based company that operates in 500+ cities. Swiggy is also known as one of the fastest-growing unicorn companies in India. This delivery business, which employs over 1,30,000 people, makes around 1 million deliveries every day.

Zomato

Zomato – Gig Economy Company

Zomato was launched in 2008 as Foodiebay, and in 2010 it was renamed Zomato Media Pvt Ltd. Deepinder Goyal and Pankaj Chaddah were the founders of the Zomato. The business joined India’s Unicorn club in 2018. It is available in a variety of countries, including the United Arab Emirates, Sri Lanka, Canada, Australia, and the United Kingdom.

Amazon

Amazon – Gig Economy Company

Amazon first entered the Indian market in 2013, and it has since grown to become one of the country’s largest online retail platforms. Amazon has created Flex, which provides part-time delivery work and other Amazon gig jobs in India for workers who want to make extra money. Those who have their own vehicles are eligible to apply for the delivery job, and can earn around Rs.140 per hour.

Dunzo

Dunzo – Gig Economy Company

Kabeer Biswas, Ankur Agarwal, Dalvir Suli, and Mukund Jha established Dunzo in 2014. It’s an online service that delivers necessities and groceries to customers’ homes. The company is headquartered in Bangalore. Jaipur, Gurgaon, Delhi, Chennai, Pune, Bangalore, Mumbai, and Hyderabad are among the eight major cities in India where Dunzo is now active.

PharmEasy

PharmEasy – Gig Economy Company

PharmEasy is an online drug and healthcare supplies delivery service based in Mumbai. The application also provides online doctor consultations and telehealth. PharmEasy app works by taking the customer’s prescription, verifying it at the store, and then delivering the medications as needed. During the pandemic, the company also launched the gift a mask campaign, in which customers were encouraged to donate a mask to frontline employees, with the company matching each donation.

Ola Cabs

Ola – Gig Economy Company

Ola cabs, often known as Ola, is an online taxi and rideshare service that offers consumers rides that can be simply booked online. The company, which is based in Bangalore, provides services in practically all of the country’s main cities. Despite its many issues, Ola continues to have a large user base in the country.

Porter

Porter – Gig Economy Company

The company was founded in 2014 and is active in over 13 cities and has served over 50 lakh customers. The Porter provides transportation aids to the customers, which also helps the owner-drivers with employment and provides them with a consistent source of income. For now, the company has around 2 lakh owner-drivers.

Uber

Uber – Gig Economy Company

Uber began operations in India in 2013, and it has since served over 95 million riders and drivers. It is an online taxi and rideshare company that accepts online reservations for rides. Uber India has supplied gig jobs to a large number of drivers, however the Uber structure in India is very different from that in other developed countries.

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Mr. Right

Mr. Right – Gig Economy Company

Mr. Right is a home service business that offers a variety of services such as appliance repair, deep cleaning, and more. The company accepts orders online and will send a professional with a good track record to the customer’s home to complete the work. The organization employs over 60,000 freelancers and offers a variety of home services.

Blinkit

Blinkit – Gig Economy Company

Blinkit, formerly Grofers, is an online platform for ordering groceries and other necessities. Albinder Dhindsa and Saurabh Kumar founded the company in 2013. The company began operations in Delhi and has since expanded to other cities. The company’s goal is to alleviate the problems and inconveniences that customers and merchants face as a result of the market’s disorganized setup.

Conclusion

Gig jobs are slowly but steadily gaining popularity in India. Because of the pandemic, there has been an increase in gig workers, and some individuals are enjoying it and do not want to return to their former jobs. Gig jobs offer convenience and flexibility. Gig workers make up a major portion of the country’s workforce and contribute significantly to its GDP. It is something that the authorities must address, and actions to protect gig workers and provide them with fair working conditions must still be taken.

FAQs

What is gig work?

Gig workers work as short-term, temporary, or independent contractors for one or more companies, rather than a regular, in-office, full-time position with a single corporation.

How much do gig workers earn in India?

The average salary for gig workers in India is around Rs 12,000 to Rs 16,000.

What is the most popular gig job?

Delivery driver is the most popular gig job.

What is called Gig economy?

Gig economy is a workforce environment for short-term employment, contractual jobs, and independent contractors who do not get monthly wage, isntead they get paid for completing a Gig.

Which are the Gig Economy Companies in India?

Top 10 Gig Economy companies in India are:
- Flipkart
- Urban Company
- Bigbasket
- Swiggy
- Zomato
- Amazon
- Dunzo
- PharmEasy
- Ola Cabs
- Porter
March 22, 2022
Top Self Driving Car Companies In 2022
In the same way that we think about flying vehicles now, the self-driving automobile was once considered future technology that was decades away. Entirely self-driving cars are already commonly accessible for usage. Several automotive behemoths have announced the debut of completely autonomous vehicles in the last four years. Driverless car developers want to provide a hands-free experience without compromising human safety by using the most sophisticated 3D imagery and AI available. To name a few features, these high-tech vehicles have speed maintenance systems, brakes, traffic recognition, lane maintenance systems, and adaptive cruise control.

Automobiles and cars are getting more intelligent and more connected in various ways, and these advancements will usher in some of the most exciting improvements in mobility and transportation in the next year and beyond. So without further ado, let’s look at top car companies that will bring out their self-driving cars in 2022.

Top 5 Self Driving Car Companies
1. Cruise
2. Waymo
3. Pony.ai
4. Optimus Ride
5. Uber
Conclusion
FAQs

Self-Driving Car Companies

Top 5 Self Driving Car Companies

Cruise

Cruise- Top Self Driving Car Companies

Cruise’s team is merging self-driving car technology with ride-sharing technology to create on-demand driverless transport modes that are cleanly engineered to cut fuel pollution.

The company’s automotive products are combined with cutting-edge robotics and AI technology and put through rigorous simulation testing before being on the market to verify that they adhere to all applicable road laws and safety procedures.

In 2022, Cruise’s driverless car division plans to launch a completely automated taxi service in San Francisco. Cruise has already started testing self-driving cars in the city, picking up General motors employees for test drives without someone in the front two seats.

The corporation now has a permit to run vehicles in the town without a human on board at night speeds up to 30 mph. Cruise can also charge for delivery services but not ride-hailing services. In addition, in 2022, the business will introduce its ‘Super Cruise’ technology, which will be available in six cars.

Waymo

Waymo – Top Self Driving Car Companies

Google began working on its self-driving vehicle project in 2009 to drive independently for ten consecutive 100-mile journeys. Waymo, a self-driving technology startup, was acquired by Alphabet in 2016, and Google’s self-driving project became Waymo.

Waymo produces a range of autonomous vehicles to fulfil the mobility demands of people around the country, including commuter cars and self-driving trucks that may be used in both personal and business settings.

The company now provides tested and validated self-driving technology that responds swiftly and effectively to environmental elements and human interaction. Waymo launched its robotaxi services outside of Phoenix in August 2021. Riders will now be able to use the Waymo One app in San Francisco, where they will be able to hail a Waymo-powered Jaguar I-Pace EV.

Waymo made an appearance in Manhattan in November 2021 for a test. It is yet to be seen whether Waymo’s self-driving cars will work successfully and make any growth in 2022.

Pony.ai

Pony.ai – Top Self Driving Car Companies

Pony.ai was founded in 2016, and since then, it has manufactured drones, robotic taxis, and self-driving automobiles. It has become one of the most valuable unicorns globally when it comes to AI technology development.

Pony.ai began testing self-driving cars on public highways in California in June 2021, with ambitions to provide commercial service in 2022.

In Fremont and Milpitas, the company is testing autonomous vehicles with human safety drivers behind the wheel. Pony.ai is also testing its self-driving cars in Guangzhou, China. Following a reported crash in Fremont on October 28, the California Department of Motor Vehicles told Pony.ai that it was suspending its driverless testing authorization on November 19.

However, Pony.ai’s permission for testing with a safety driver is unaffected by the ban. This summer, Pony.ai also wants to relaunch a public carpool service in Irvine, employing autonomous vehicles with a human safety driver. Its objective is to have a completely autonomous service available to the public by 2022.

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Optimus Ride

Optimus Ride- Top Self Driving Car Companies

Optimus Ride is a completely automated shuttle service designed to bring entire communities to their destinations as quickly as feasible. To assure security and comfort, the end-to-end mobility solution provides a rider-first experience and actual road-ready safety features.

In March 2021, the business announced a partnership with Polaris, a producer of power sports vehicles, to bring completely autonomous GEM electric cars to market. The two companies are working on a new Polaris low-speed car that will completely incorporate Optimus Ride’s autonomous software and hardware package.

In Brooklyn, California, Northern Virginia, and Boston, Optimus Ride has deployed roughly 30 Polaris GEM cars equipped with Optimus Ride autonomous technology for commercial ride-hailing operations.

Rides are now restricted to a limited set of residents in riverfront apartment complexes, similar to when the service debuted in the DC region at the Reston-based Halley Rise mixed-use development. Passengers can reserve a ride up to a week ahead of their trip by downloading the Opti Ride App.

Uber

Uber- Top Self Driving Car Companies

Uber is the world’s most popular ride-hailing and ride-sharing service, assisting individuals from all over the world in getting to where they need to go in quick time. On occasion, Uber has dabbled in self-driving vehicles, most notably partnering with Motional to investigate new methods to introduce self-driving technology to Uber’s network.

Motional is a joint venture between Hyundai Motor Co. and Aptiv Plc that combines Aptiv’s self-driving car technology with Hyundai’s automobile manufacturing expertise.

In 2020, Uber sold its self-driving vehicle section to Aurora Innovation Inc. and acquired a share in the company, abandoning its plan to build a fleet of self-driving taxis. The Uber Eats trial programme will deliver meal packages from select restaurants in the Santa Monica region of Los Angeles via the Uber Eats app. By early 2022, Uber Eats customers will be able to buy restaurant meal kits and have them delivered by one of Motional’s modified all-electric Hyundai Ioniq 5 robotaxis. The Hyundai cars employed in the testing had never been used to deliver anything before.

Although self-driving vehicles will be used in the pilot programme, the service will begin with safety operators present in the vehicles and not be fully autonomous.

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Conclusion

By 2030, these services will account for up to 25% of all shared mobility travels, according to predictions. These self-driving cars will be shared, resulting in less traffic, more parking places, a cleaner environment, and, most importantly, fewer deadly automobile accidents.

That day is not too far when all of our vehicles are automated and self-driven.

FAQs

What are the car companies to bring Self-driving cars in 2022?

Some of the car Companies to bring self-driving cars in 2022 are:
- Cruise
- Waymo
- Pony.ai
- Optimus Ride
- Uber
What companies make AI for self-driving cars?

Top companies that develop AI for self-driving cars are:
- Cruise
- Waymo
- Agro.ai
- Neuro
- Pony.ai
- Zoox
- Robotic Research
- TuSimple
- Momenta
- nuTonomy
Which are the Top 10 Self-Driving Startups in India?

Top 10 self-driving startups in India are:
- Fisheyebox
- Flux Auto
- Netradyne
- ATImotors
- Hi Tech Robotic Systemz
- Swaayatt Robots
- SeDriCa 1.0
- OmniPresent Robot
- Auro Robotics
- Playment
January 5, 2022
Who is leading the Air Taxi Startup Race in India

There is a huge increase in population in India. The increase in population has led to an increase in the traffic in the metro cities in the country. The top cities in the country were ranked in the top positions for the highest traffic worldwide.

To bring a solution to this huge traffic and the delay caused because of that various startups have been working towards building Air Taxis. Let’s look at some of the Air Taxi startups in India.

UDAN Scheme Air Taxi Service
Ubifly Technologies
IIT Kanpur Air Taxi
Uber Air Taxi
Vinata Aeromobility
Conclusion
FAQ

UDAN Scheme Air Taxi Service

India’s first Air Taxi service was first launched at the Chandigarh airport. It was inaugurated on 14 January 2021 by the Chief Minister of Haryana Manohar Lal Khattar. The Air Taxi service is launched under the UDAN scheme of the Central Government.

Airports Authority of India had tweeted on their official Twitter handle saying that India’s first Air Taxi flight was flagged off by the Chief Minister of Haryana as part of their Inauguration. They added that the flight will operate under the Regional Connectivity Scheme RCS-UDAN.

The Chief Minister of Haryana said that this is the first time in the country that a small aircraft is used for services in the form of an Air Taxi.

The Air Taxi can carry one pilot and three passengers. The Air Taxi has the lightest plane which has a twin-engine in the world. Its weight is 760 kg. The aircraft uses a standard 92 octane petroleum which is different from the normal flights which use Aviation Turbine Fuel (ATF).

The aircraft can travel at a range of 742 Nautical Miles. The services can be availed at INR 1,755 per seat. The main objective of the aircraft is in line with the government’s aim to connect the Tier 1 and Tier 2 cities with the metro cities of the Country.

A subsidy is provided by the government to the airlines per seat to provide better connectivity to the smaller towns. As per the reports the airline will cover around 26 routes under Regional Connectivity Scheme (RCS) UDAN.

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Ubifly Technologies

Ubifly technology is a Chennai-based startup that is working on developing e-planes in the country. Ubifly Technologies Private Limited was founded in the year 2016. The company is commonly known as the e-plane company.

It was founded by Satyanarayanan Chakravarthy and Panjal Mehta. The Startup is concentrated on developing electric planes and unmanned aerial vehicles (UAV). The main aim of the startup is to bring a new definition for intracity travels and their products focus on short-distance intracity travels.

Pranjal Mehta(Left) with Prof.Satyanarayanan

The company is trying to build a hybrid mix of drones and electric airplane technology. The vehicle will take off and land similar to the drone but will move forward in the air like an airplane.

The Startup has already designed three UAV models, Ek Hanz which will be used for delivering goods and services, Scout which is for security and surveillance, Vayu which will be a hybrid autopilot e-plane.

The company will develop a two-seater air taxi which will be called as e200.

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IIT Kanpur Air Taxi

IIT Kanpur had signed a Memorandum of Understanding (MOU) with VTOL Aviation India Pvt. Ltd. The deal is worth INR 15 crore. VTOL Aviation India Pvt. Ltd is an Indian private aviation company. The MOU is for building prototypes that will be operational and will be used as flying taxis.

The project is expected to be completed by 2023 where over 100 researchers from IIT Kanpur are working towards developing a fully functional prototype.

According to the deal, the researchers will first conduct a test to identify the feasibility of the project. This is to understand the key technological areas of the project and the rest of the project is expected to be completed by 5 years.

Ajay Ghosh who is the head of the Aerospace Engineering and the Flight Lab at IIT Kanpur has said that there will be more than 100 students working on the project in the coming years.

The researchers will work on developing the aircraft based on VTOL technology that is vertical takeoff and landing. They are working towards building an electric aircraft to promote clean energy and sustainability.

Uber Air Taxi

Uber is working on developing an aircraft based on e-VTOL that is electric vertical take-off and landing. These are considered to be cleaner, cheaper, and safer than helicopters. Uber Elevate is working towards developing aerial ridesharing with Uber Air and is expected to take off in 2023.

Uber Air taxi Prototype

In 2020 it was announced that Joby Aviation will acquire Uber Elevate. Both the parent companies have agreed to integrate their services into each other’s app.

Uber had announced that Dallas and Los Angeles as the two cities to begin their Air Taxi and Melbourne, Australia as its first international city to move forward with its expansion.

Uber has also said that it has shortlisted 5 countries other than the US to expand its Air Taxi services which include Japan, India, Australia, Brazil, and France.

Vinata Aeromobility Model

Vinata Aeromobility

Vinata Aeromobility is developing a Full Autonomous Hybrid Flying car through Advance Aeromobility by using combined technology of quadcopter VTOL hybrid power urban air mobility systems and integrated electric power 4 wheel drive motor with advanced aerospace engineering cutting edge technologies.

According to Yogesh Ramanathan, Founder, and CEO of Vinata Aeromobility, the company is hoping to perform flight trials of their Hybrid-electric Flying car by 2023 and make it available for Commercial flights by 2025.

It can fly at a speed of 100 to 120 kilometers per hour and can carry two passengers at the same time, with a maximum flight time of 60 minutes at a maximum height of 3,000 feet.

Conclusion

Other than these some more companies are working towards the Air Taxi services around the globe which include Vertical Aerospace, Hyundai’s helping hand, a joint venture between the Boeing company and Kitty Hawk Corporation.

FAQ

What does Air Taxi mean?

Air taxis are small commercial airplanes used for short flights between localities.

Which company is going to start a drone air taxi service in India?

Malaysian budget airline AirAsia is planning to launch a flying-taxi business as soon as next year.

Does Dubai have a flying Air taxi?

Dubai has one of the first major projects of Air taxis, The Autonomous Air Taxi (AAT) is an 18-rotor drone taxi. The company claims to be the world’s first ‘self-flying taxi service’.

November 16, 2021
Why Uber and Lyft will pay legal Fees for its drivers sued under Texas Abortion Law?

On September 3rd 2021, both Lyft and Uber announced that the companies will now cover the complete legal fees of the drivers who get sued under the new controversial abortion law in Texas. The Texas Abortion Law is also known as the Texas Heartbeat Act and Senate Bill 8 was passed on 19th May 2021 bans abortion after six weeks or after the heartbeat is detected.

According to many medical studies, most women usually are not even aware of the pregnancy for six weeks. Besides that Senate Bill 8 also gives Texan citizens the access to file a lawsuit and collect damages of up to $10,000 against anyone who is considered to be aiding or abetting women in getting an abortion. The driver who would drive women to clinics or hospitals in the state is also potentially liable.

The law has caused protests and outrage by women not only in Texas but across the world. It is also considered to be the biggest restraint to the constitutional right of women to get an abortion in decades.

Uber and Lyft’s take on the Texan Abortion Law
A Brief about the Texas Abortion Law
What other companies think of Texas Abortion Law
Frequently Asked Questions

Uber and Lyft’s take on the Texan Abortion Law

On 3rd September 2021, Logan Green the current CEO of Lyft said that the company is creating a driver legal defense fund in order to cover the complete legal fees if the company driver gets sued under the new abortion law in Texas.

In a statement against the new Senate Bill 8 law, Lyft went on to say that it was incompatible with women basic right to privacy as those are the values of the company.

The company also said that that the law was an attack on women’s access to healthcare and their right. This is why Lyft donated a sum of $1 million to an organization called Planned Parenthood in order to ensure that transportation never becomes a barrier to people accessing healthcare. Lyft also encouraged other companies to follow in their footsteps.

In a statement, Lyft said that “Drivers are never responsible for monitoring where their riders go or why. Imagine being a driver and not knowing if you are breaking the law by giving someone a ride.” The company also added that “Similarly, riders never have to justify, or even share, where they are going and why. Imagine being a pregnant woman trying to get to a healthcare appointment and not knowing if your driver will cancel on you for fear of breaking a law. Both are completely unacceptable.”

Shortly after Lyft statement, Uber’s CEO Dara Khosrowshahi also joined hands with Lyft facilitating their drivers with a similar policy.

In a Twitter post, Dara Khosrowshahi said that “Drivers shouldn’t be put at risk for getting people where they want to go. Team Uber is in too and will cover legal fees in the same way.”

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A Brief about the Texas Abortion Law

On 19th May 2021, Texas Governor Greg Abbott signed the Texas Heartbeat Act which is also known as Senate Bill 8 of the 87th Legislature. According to this bill, abortion is considered to be outlawed once the heartbeat of a fetal is detected, which usually occurs in the sixth week of pregnancy. Besides banning abortion after six weeks, the law does not have any exceptions for instances of rape or incest.

It only allows abortions in the case of medical emergencies. With Senate Bill 8 coming into action, people can now sue anyone who helps a Texan woman seeking an abortion. However, according to the law, the women seeking an abortion will not be the target of prosecution, while anyone who helps women get abortions can get charged over $10,000 by Texan citizens.

The Senate Bill 8 met with a few legal challenges, but after the Supreme Court denied an emergency appeal from abortion providers the same week. Unfortunately, the Supreme Court voted 5-4 leading to the law to come into action on 1^st September 2021.

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What other companies think of Texas Abortion Law

The top dating companies like Bumble and Match have also raised their voice against the new abortion laws in Texas. The companies have come forth in order to help fund Texan women access the services for abortion. Shar Dubey the CEO of Match said that the company has set up funds for employees who need help to travel to another state to have an abortion.

In a statement, Bumble also added that the company will launch a fund in order to help women who want services for abortion in Texas. Another web hosting company called GoDaddy also removed a group known as Texas Right to Life as it was said to be in support of the new law and because it was putting up information about alleged violations of the act. GoDaddy removed Texas Right to Life on the terms that it violated the terms of service of its platform.

Frequently Asked Questions

What is the Senate Bill 8?

According to this bill, abortion is considered to be outlawed once the heartbeat of a fetal is detected, which usually occurs in the sixth week of pregnancy.

When did Texas Heartbeat Act come into effect?

The Texas Heartbeat Act come into effect on 1^st September 2021.

Why are Uber and Lyft paying legal fees for their drivers who sued under the Texas Abortion laws?

Both Uber and Lyft are paying legal fees for their drivers who sued under the Texas Abortion laws because they think they believe that drivers should not be put at risk for getting people where they want to go.

September 7, 2021
Interesting Facts about Uber that People Don’t Know

Uber has become synonymous with cab service and the name itself needs no introduction. You can book a ride with just one tap. The app connects drivers present in more than 150 cities of the world. The total duration between booking a ride and pick-up ranges between 15-20 minutes. The company is a US based startup and launched itself in India in the year 2013. It was first launched in the city of Bangalore. Now, it is operating in many cities of our country.

This cab service providing company has millions of users and drivers. Uber has been in the limelight for various reasons, both good and bad. There are many things about Uber which many people still don’t know. This article will cover all those unknown facts. Keep scrolling the article to fulfill your curiosity about the same.

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Uber’s Origin
A Nuclear Physicist’s Entry in the Company
Keeping the drivers in dark about the destination
No discount for Uber drivers
Ratio of Men: Women drivers is quite less
Three Employee Policy
Each drivers gets an iPhone
No cash, just digital money
Age of Uber Cars
Uber’s Annoying alarm
Rating of users
Incentives for New users
Currency drain
Not so affordable rides
Company earns by playing middleman
Uber Kittens- A new venture
No service in Antarctica
Love of the company for Latin
World record of longest Uber ride
Name is shared by a design firm
FAQs

Uber Facts

Uber’s Origin

Garrett Camp and Travis Kalanick- Uber Founders

The company was founded by Garrett Camp and Travis Kalanick in 2009. The idea of cab services hit the founder- Camp when he noticed the high cost of transportation and then came up with the idea of an affordable alternative. Travis Kalanick is a college dropout from University of California, Los Angeles. Uber was the third venture by Travis Kalanick. Garrett Camp is also the founder of StumbleUpon. The company was earlier named as UberCab and then in 2011 the company changed its name to Uber when it was introduced in San Francisco.

A Nuclear Physicist’s Entry in the Company

You might be feeling confused after reading this. But, it’s true that the company once hired a nuclear physicist, a neuroscientist and a machinery expert. This was done in order to understand the demand of the service. It helped them predict the areas where the demand was high and for providing an accurate method of recommending fare using the GPS.

Keeping the drivers in dark about the destination

Uber drivers don’t know the destination of the passenger while receiving the ride request. Uber Drivers become aware of the destination once they agree to pick them up. It is quite a weird thing and it is not known why Uber does this.

No discount for Uber drivers

Uber doesn’t offer any sort of discounts to it’s drivers. If you think that they might be getting some off or discount on rides in Uber then, you are wrong. However, they are provided with other incentives.

Ratio of Men: Women drivers is quite less

There is quite a low ratio of men:women drivers in the company. A study has suggested that there are only 14% of women drivers in the company. Uber is planning to increase the percentage and in the past also aimed to add 1 million female drivers by 2022.

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Three Employee Policy

Uber hires just three employees per city who are responsible for handling all the operations within that city. For any concerns, these three people have to be contacted.

Each drivers gets an iPhone

Company gives the latest model iPhones to all its drivers so that the driver can track your location and reach on time. iPhone is just used for this purpose and all the other features aren’t available for the drivers.

No cash, just digital money

Uber has a No Cash policy which means that you can not pay the drivers using cash. Credit cards can be used to create an Uber account. No debit cards are accepted. But there is more cash using population in our country. There is a very small percentage of people who do cashless transactions.

Age of Uber Cars

Uber is quite strict in terms of age of the car. Drivers are not permitted to use a car that is more than 10 years old. This restriction is beneficial for passengers as no one would like to spend money on some old ride.

Uber’s Annoying alarm

Uber drivers have a common complaint from the company and that is the annoying alarm. Alarm signals a ride request and its sound is quite hard to miss. Sole benefit of this alarm is that the sound can not be missed.

Rating of users

Till now, you must just be aware of the fact that drivers’ are rated by the users. But, it’s also the other way round. Drivers also rate you according to your behavior. Rating affects your pick-ups as if you are a bad rated user then, you’ll be a less preferred customer. Keep this point in your mind before you make an Uber driver wait for you.

Incentives for New users

Uber is seen as a company which never fails to attract customers. It indulges in various marketing strategies. One of them is offering free rides to users on special occasions. Various other cab services have not been able to match Uber on this front. It has been able to afford such innovative marketing because of large investors such as Google and Kleiner Perkins.

Currency drain

Uber is a US based company. The money charged from people goes to an Uber account near Amsterdam from where it is further transferred to US Wells Fargo account. After 7 days, 80% of the money paid by customers comes to a driver’s account. Many complaints regarding foreign exchange have come into the notice of RBI. If the company wants to operate in India then, it has to make various changes in its current way of operation. Such complaints have been registered in other countries as well.

Not so affordable rides

If we see the base fares, cost per km and cost per minute then, Uber Black luxury rides seem to be quite expensive when compared to the same services offered by rival companies. Recently, Uber has launched UberX which offers cars such as Toyota Etios and Maruti Swift Dzire at very nominal cost. Let’s see if this new idea is able to attract more customers.

Company earns by playing middleman

The cars which operate under the name of Uber aren’t owned by the company. Uber just acts as a middleman between people and cab drivers.

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Uber Kittens- A new venture

Uber Kittens

Uber likes to experiment with various new concepts. It recently introduced UberKITTENS in the US. It was started in seven cities and provided the option of spending time with real kittens.

No service in Antarctica

Uber doesn’t offer it’s services in Antarctica. It’s services are operational in 173 countries of the world and have millions of users. Uber has conducted more than 5 billion trips since it’s launch.

Love of the company for Latin

Do you know what Los Ubers are? It is a group of Uber employees who have come together with the single motive of spreading the greatness of Latino culture all across the globe. This makes the company’s love of Latin very clear to us.

World record of longest Uber ride

The longest Uber ride was 3361 Kilometers’ long and this incident took place in 2017. This is another amazing fact about the company. The driver drove 2256 miles or 3361Km. He drove a YouTube celebrity from North Carolina to California.

Name is shared by a design firm

Uber Technologies shares its name with a design firm that was established in 1999. It has happened several times that when Uber Technologies was amid some controversies, the design firm was made a target for many lawsuits.

So, these were some of the unknown facts about the company. Hope you enjoyed reading the article.

FAQs

What is Uber famous for?

Uber Technologies is an American app-based transportation platform.

Why is it called Uber?

The name Uber is derived from the German word meaning “above all the rest”.

When was Uber app founded?

Uber’s mobile app was officially launched in San Francisco in 2011.

Is Uber kitten real?

Uber recently introduced UberKITTENS in the US. It provides the option of spending time with real kittens for 15 minutes.

What is the longest Uber ride ever?

The longest Uber ride was 3361 Kilometers’ long and this incident took place in 2017.

August 6, 2021
How did Uber make a Billion Dollars from Zomato Listing? – Case Study

We are past the worst recession since the Indian independence in 1947, which was due to the COVID-19 onslaught. Though the dreadful pandemic hasn’t taken its exit yet from the country, the Indian market has started to boom with the listing of the shares from a bunch of companies, which certainly looks promising enough!

Zomato, India’s food delivery giant, has already launched its IPO on July 23, 2021, and that too with flying colors. Though the company exhibited a mammoth size of IPO at Rs 9,375 crores, the overall subscription of 38x was quite healthy. At the end of day 1, Zomato witnessed a 66% premium at Rs 125.85.

Zomato, with its successful IPO listing, has certainly been the talk of the town but one another company has parallelly been mentioned if not more. This is Uber, which seems to have largely benefitted with this listing of Zomato, and what is stranger is the fact that it hasn’t spent a single penny in the food aggregator business!

Uber’s Gain out of the Zomato IPO
How did Uber become the gainer in Zomato IPO?
Looking Back at the Uber Eats Deal of Zomato
Who else gained in Zomato IPO?
FAQ

Uber’s Gain out of the Zomato IPO

As soon as the Zomato listing closed for the day on July 23, 2021, people began talking about the sudden surge of the market value of Uber stakes. Yes, the market value of the stakes Uber has in Zomato, at the end of the day, was announced at Rs 9,000 crores ($1.2 billion). This baffled many, and even more so, when they heard that Uber didn’t spend a penny for such a fortune it made out of the Zomato IPO.

How did Uber become the gainer in Zomato IPO?

The recent gain of Uber may sound like the company has not spent anything to gain a considerable large sum and in reality, it is so. However, we need to recall that Uber has had its 9.19% shares in Zomato due to the latter’s acquisition of Uber Eats, which Zomato acquired back in 2020 at $206 million.

Along with making over a billion dollars in Zomato’s IPO, Uber also resigned from Uber Eats last year, which was on the verge of being a liability. Therefore, it was truly a win-win decision for Uber!

Looking Back at the Uber Eats Deal of Zomato

Launched in August 2014, Uber Eats started as a food delivery platform, which displayed menus from all the restaurants that were partnered with the app and helped the users order their favorite dishes, much like what we do in Zomato and Swiggy.

However, soon after the launch, Uber Eats started to pick up huge losses. The losses for the company started to pile up even more after the Covid-induced lockdown was announced. Furthermore, the losses of Uber Eats were tied to the overall losses that the cab aggregator was seeing, especially when more than half the world was observing lockdown.

During this time, the subsidiary of Uber had to resort to stringent measures like pay cuts and laying off employees. Uber Eats trimmed down its employee strength by 30% in hope that it would help the company get some gear, but when it failed, Uber thought of selling off its food delivery subsidiary.

It was on January 21, 2020, that the Indian division of Uber Eats was finally sold to none other than the food delivery giant, Zomato, in return for 9.99% stakes in Zomato, which was valued at around $180 million back then.

Who knew that this deal would be so profitable the next year itself?

According to Uber, the “fair value of the consideration” that it received for the Indian business of Uber Eats was $206 million, which included $35 million of “reimbursement of goods and services tax receivable from Zomato.”

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Who else gained in Zomato IPO?

Along with Zomato and Uber, the IPO was also a huge benefit for Info Edge, whose stocks saw a healthy rise in price and are currently worth Rs 15,000 crores. Deepinder Goyal, Zomato cofounder’s holdings, which were valued at 2,800 crores also witnessed a rise to Rs 5,500 crores.

Overall, it can be said that Zomato made a robust debut on the stock exchanges on Friday, July 23. The shares of the company started at ₹116 on the national stock exchange (NSE) and represented more than a 51% premium over the issue price of ₹76. Only 16 minutes past its listing, at 10.16 a.m., the market cap of Zomato breached ₹1 lakh crore. An amazing feat indeed!

Stocks of Zomato

Conclusion

Launched in 2008, Zomato was one of the startups that have truly emerged strong, standing as the biggest food delivery services in India, ahead of its arch-rivals, Swiggy, have amassed the strength of the years and is pacing towards a brighter future.

On such a successful first-day run of Zomato, the co-founder and CEO, Deepinder stated, “We are going to relentlessly focus on 10 years out and beyond, and are not going to alter our course for short-term profits at the cost of the long-term success of the company.”

FAQ

Is Uber Eats owned by Zomato?

Yes, Uber sold its India business of Uber Eats to Zomato for a 9.99% stake.

When did Zomato acquire Uber?

Zomato acquired Uber Eats on 21st January, 2020.

Why did Uber Eats left India?

Uber Eats decided to quit its operation in India, to cut its global losses as it was fallen behind to keep up with the competition.

July 24, 2021
List of all the Startups Funded by Ola

Ola cabs is an Indian ride-hailing platform that was founded in 2010 by Bhavish Aggarwal and Ankit Bhati with a mission to offer easy travel for millions of Indians. It is India’s largest ride-sharing service app with a market share of $6.5 billion.

Lets look at the list of startups funded by Ola.

Foodpanda India
TaxiForSure.com
Ridlr
Geotagg
Qarth
FAQ

Foodpanda India

Foodpanda is a Germany-based online food delivery platform which is owned by Delivery Hero. Foodpanda currently operates with 20 brands in 50 countries around the globe and has its headquarters in Berlin, Germany.

Foodpanda’s business in India was procured by Ola for all offer arrangements in December 2017. The total Amount Invested by Ola in Foodpanda was around $40-$50 million.

TaxiForSure.com

TaxiForSure is an aggregator of vehicle rentals and cabs for people to get an effectively available, reliable, and dependable taxi ride. They work with different taxi managers and empower them with innovation to guarantee that people get taxi rides. As the name suggests, TaxiForSure.com promises a sure taxi ride.

The Banglore-based company was acquired by Ola Cabs in 2015. After the acquisition of TaxiForSure.com, Ola gained a massive lead over its biggest rival, Uber, and boosted its revenue. Ola has invested around $200 million in this startup

Ridlr

Ridlr is an Indian public transporting and ticketing app used for intra-city travel founded in 2012. Ridlr permits travelers to get ongoing data about the different modes of travel. It also books tickets and tokens through the application via online payments. Ridlr has a firm connection with BEST (Brihanmumbai Electricity Supply and Transport)

Since Ridlr has strong connections with BEST and Ola always wanted to be the biggest transporter, Ola cabs made its second acquisition in this public transport ticketing app. Ridlr secured funding of over $25 million from Ola in 2018.

This was a big achievement for Ola since it always wanted to expand its business beyond extensive ride-hailing and get into public transport as well.

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Geotagg

Geotagg is a startup founded by IIT Madras graduates, zeroed in on giving systems in the field of Intelligent Transportation Systems. Geotagg has designed a GPS-based public information system specifically for Indian traffic scenarios. Ola, the country’s biggest online taxi aggregator, is hoping to solidify its client base by venturing into related vehicle organizations including transport administrations, carpooling, and bike taxis.

Qarth

Qarth, which runs a versatile installments application called X-Pay, is Ola’s second investment in the mobile payment space. Ola has acquired mobile payments organization Qarth to encourage its wallet administration Ola Money dispatched in November 2015.

Ola consistently is searching for digital cash move administrations for its Financial Arm Ola Money. It will assist buyers to pay using the digital wallet for both food and grocery. You can not only use Ola Money for making payments for Ola rides, but it can also be used on other online platforms like Lenskart, Oyo Rooms, Saavn, and Zopper.

FAQ

What are the Startups funded by Ola?

The startups funded by Ola are TaxiForSure, Geotagg, Qarth, Foodpanda and Ridlr.

Who is the founder of Ola?

Bhavish Aggarwal, Ankit Bhati founded Ola cabs in 2010.

Is Ola an Indian company?

Yes, Ola is an Indian ridesharing company founded in 2010 by Bhavish Aggarwal and Ankit Bhati.

July 18, 2021