Uber, Rapido Held Talks to Combine India Operations, Report Says; Rapido Denies

Ride-hailing giants Uber and Rapido reportedly engaged in discussions in May regarding a potential combination of their India operations. However, the talks ultimately collapsed due to disagreements over the structure of the proposed deal.

According to reports, the discussions took place during Uber CEO Dara Khosrowshahi's visit to India. Uber is said to have proposed bringing the two businesses together under Rapido's management. Rapido subsequently made a counterproposal to acquire Uber's India operations through a cash-and-stock transaction, with Uber retaining a minority stake. Uber, however, was reportedly unwilling to exit India or cede control, leading to the breakdown of negotiations.

Rapido has publicly denied the reports of any such discussions or plans, stating that the company remains focused on independently scaling its mobility business in India. Uber declined to comment on the matter, citing market speculation.

The reported discussions come as Uber seeks to expand its presence in India's two-wheeler mobility market, a segment currently dominated by Rapido. Uber recently announced the expansion of its Uber Bike service to 100 additional cities, intensifying competition with Rapido, particularly in the bike-taxi segment. Industry estimates suggest Rapido holds a significant share of India's ride-hailing market.

The Indian ride-hailing market is highly competitive, with various established players and new entrants vying for market share. Rapido recently secured substantial funding to fuel its expansion plans. A combination of Uber and Rapido's operations could have significantly altered the competitive landscape of India's ride-hailing industry.