Uber CEO Dara Khosrowshahi has identified a new top competitor in the Indian ride-hailing market: Rapido. During an appearance on the People by WTF podcast hosted by Zerodha co-founder Nikhil Kamath, Khosrowshahi stated, "Ola used to be our main competition. Now, the tougher competition in India is Rapido."
This statement signals a major shift in the country's ride-hailing landscape. Rapido has quickly expanded its market presence, particularly in the four-wheeler segment, where it now holds an estimated 20% market share. This places it just behind Ola, which has a 30% share, while Uber remains the market leader with approximately 50%.
The Hyderabad-based startup has seen remarkable growth, with its gross order value (GOV) soaring to $1.25 billion in FY25, a significant increase from $500 million the previous year. This growth is driven by aggressive service expansion, though it has also led to high cash burn and mounting losses.
Rapido’s ambitions are extending beyond mobility. The company recently resumed its bike-taxi services in Bengaluru and has entered the food delivery market with a new service called Ownly. This new venture is currently live in select areas of Bengaluru and aims to challenge the dominance of Swiggy and Zomato by offering lower prices and flat delivery fees.
As Rapido continues its push into both mobility and food delivery, it is solidifying its position as a formidable player in India's competitive tech landscape.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
