Uber CEO calls Rapido a ‘bigger rival’ than Ola in Nikhil Kamath’s podcast; Here’s why

Uber CEO Dara Khosrowshahi said that his company saw the domestic player as a larger rival than Ola and pointed to a change in the country’s competitive driving greeting view.

Khosrowshahi, one of the podcast people of Zerodha’s co -founder Nikhil Kamath, said that Rapido emerged with the replacement of Ola, once the market leader Ola, the market leader.

Khosrowshahi Podcast said, “It was our main competition, now harder competition in India, Rapido said.

According to a study conducted by Equity firm Equentis, as of December 2024, Uber dominated the Cab category with a 50% market share, and sat at 34% and Rapido 14%. Mint May.

Rapido’s growing presence in India

In 2015, Rapido, based in Bengaluru, founded three entrepreneur-Pavan Guntepalli, Aravind Sanka and Rishikesh SR. He initially focused on bicycle taxis, but since then it has expanded to include automatic checks and taxi services.

Currently, the platform operates in more than 100 cities throughout India. However, the Ride Hailing platform plans to double its existence from 120 existing cities and expands its presence in more than 500 cities by the end of the year. Mint It was reported in May.

Rapido’s last donation collection was a $ 30 million investment directed by the Dutch investment company Prosus. Last year, the company collected $ 200 million by Westbridge Capital, and with the participation of investment companies such as Nexus Venture Partners, Invus, Think Investments, Konark Trust and MMPL Trust. After this donation collection tour, the company’s valuation rose to $ 1.1 billion and made a unicorn horse that referred to an attempt with a billion dollar valuation.

Ola’s performance

Ola, the consumer’s parent company, although not a company listed the memorial Technologies, is listed in both stock exchanges of Ola Electric, NSE and BSE, an electric subsidiary.

Most of Ola’s attention gradually shifted to Ola Electric, the home arm, which was opened to the public in 2024. La428 CRORE La347 Crore in the same period a year ago.