Uber has created a bump in its tracks with Didi Chuxing, the global giant’s arch rival in China buying out its operations there. The combined entity is now valued at $35 billion, according to news reports. The buyout is a jolt in the smooth travel of Uber operating in several countries across the world. It is also in keeping with the rumblings that Uber has managed to create with its caring two hoots for local regulations in some of the countries it has a presence in.
The Indian environment is open to foreign presence, says Sanchit Vir Gogia, Chief Futurist, Founder and CEO, Greyhound Knowledge Group. “Though Amazon and other players have not been able to make an impact in the Chinese market, they continue to be big names in India. So in that sense, we should not have inference from the China market.”
Gogia of Greyhound Research, feels that the likes of Meru may be snapped by Uber to consolidate its position in India.
Source: First Post