Uber preparing for IPO, may soon merge with Ola in India

Uber has more time to focus on India since it exits South East Asia but here in India, the cab aggregator has a direct rivalry with Ola. Uber is considering a public offering in 2019 and would make perfect sense that Uber will pitch its growth in India to the investors. The industry source also added that the company also needs to balance that thing by talking about the profitability.

Uber and Ola have both received investments from the same investor which is Softbank. It pushed back for the merge between Uber and Grab Holdings in South East Asia. The executives from Uber and Ola met at least twice in the last 12 months, as per sources aware about these meetings. The most recent meeting took place when the Uber’s CEO Dara Khosrowshahi’s visited India in February.

The Ola’s spokesperson said that the company “is always actively looking for opportunities for expansion of its footprint.” He added that Ola has other investors including Softbank.

“Uber is not going to quit any time soon. I believe they will focus on India more strongly. India continues to be two-horse race at least for the next couple of year, ” said an industry source who worked with the company.