Uber India value surges amid battle with Ola, Rapido

Core Insights - Uber India has solidified its position as the largest cab aggregator in India, surpassing Ola Consumer and Rapido, with a share value increase of over 40% in the last two years [1][3]. Financial Performance - The valuation of Uber India shares rose to ₹2,022.85 per share after a ₹200 crore investment in November, marking a nearly 41% increase from ₹1,438.9 per share in May 2023 [2]. - Uber India's revenue surged by 41% to ₹3,761 crore in FY24, while losses narrowed to ₹89 crore from ₹311 crore the previous year [3]. Market Position - Uber holds approximately 45% market share in the Indian cab aggregator market, while Ola's share has decreased to 25-30% from 42-44% in FY24 [3]. - Uber's main competition has shifted from Ola to Rapido, which is gaining popularity among price-sensitive consumers [6][7]. Valuation and Investment - Uber India has not raised external funds, making its market-based valuation indeterminate; however, its internal valuation suggests it could attract a premium from potential investors [5]. - Ola Consumer's valuation has seen a significant markdown, dropping from a peak of $7.3 billion to $1.25 billion [4]. Employment Trends - Uber India's registered employees increased from 3,866 in April 2024 to 4,804 in August 2025, contrasting with Ola Consumer's parent company, which saw a decline from 886 to 376 employees [8].