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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
As India goes into lockdown, taxi drivers are struggling to put food on the table. For many, it might be the end of the road
Editor's note: We don’t have a paywall for most of our stories on Coronavirus and its impact. Support us and subscribe here. Rajendra Singh is sitting inside his white Maruti Suzuki Wagon R, his seat reclined and his feet sticking out of the driver-side window. He’s watching a Hindi movie on his mobile phone, half of his face covered by a handkerchief. Every once in a while, he looks up at the device fixed on the windshield, hoping to see a booking pop up. Every time, he returns to the show, dejected. It is 4.00 pm on a weekday and Singh has been sitting here without a booking for six hours. In his four years working with cab-hailing services Uber and Ola, he has never had to sit alone in his car for so long. “I have completed one ride of Rs 107 since 8.00 am. Since yesterday, I have done business worth Rs 500. If you deduct taxes and commission, there is nothing to take home,” says Singh. That’s been the case since last week. The coronavirus threat has forced state governments …
A string of deals and bets signal the ride-hailing company’s ambition to dominate delivery, but questions and challenges remain.
Shared rides seemed tailor-made for India’s congested cities. Yet, economics, trust and regulation kept the idea from scaling.
The founders of the Turkish company have filed a suit against the Abu Dhabi sovereign fund, proptech Stake has raised new millions and there is a new financial giant in town.
