Behind the Uber-Rapido merger talks; Honasa’s strong Q1 report
Happy Friday! Uber and Rapido explored combining their India ride-hailing operations in May, sources told us. This and more in today’s ETtech Morning Dispatch.
Uber and Rapido examined merging their India ride-hailing operations in May, but the talks fell through due to differing visions on the structure of the deal, according to sources. During Uber CEO Dara Khosrowshahi's visit to India, the two companies presented contrasting proposals. Uber wanted to merge the businesses and allow Rapido’s team to run the combined entity, while Rapido sought a cash-and-stock structure that would effectively acquire Uber’s Indian operations while giving Uber a minority stake in Rapido.
Ultimately, Uber refused to relinquish control or exit the Indian market, causing the negotiations to break down.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
