Mid-way through the year, something unexpected happened with Uber – the largest startup in terms of valuation. It gave up in the world’s most populous country. In an apparent move to stop a bloodbath in terms of losses, US-based Uber Technologies Inc, co- founded by Travis Kalanick, agreed to sell its China business to home grown rival Didi Chuxing. That made India, the second biggest market for Uber after the US the focal point. It was the biggest highlight for Uber in India in year 2016.
“This year, they made a very promising noise for the country. Uber came out in the open and said ‘India is important for us.’ China did not work out for them as they would have wanted to. They have taken a slight beating in China. They have been hiring, Travis (Kalanick) himself met Amitabh Kant (CEO of India’s economic development body NITI Aayog). These are all positive messages they are giving out for the country,” said Sanchit Vir Gogia, Chief Analyst and CEO at Greyhound Research, a technology transformation Research and Advisory firm.