On the morning of 11 April, 2019, the world woke up to Uber Technologies Inc’s S-1 filing with the United States Securities and Exchange Commission. Last valued at over $120 billion and marinated over ten long years, few world events—amongst them the Olympics, myriad championship bouts, wildly arranged Tarantino movie plots or the election of a puddle to the White House—can compare to the global gasp of billionaires and commoners when the S-1 hit, demanding to be inspected.
Uber’s retreat from India
On the face of it, not calling India a priority market may feel like an admission of defeat. No, it is not. India’s diminishing importance in Uber’s scheme of things is an admission of sanity prevailing over haemorrhaging cash-burn
Uber's S-1 hit the United States Securities and Exchange Commission on 11 April
Not only has Uber never made money in the last ten years it has been around, it lost about $1.8 billion last year
It is increasingly evident that India isn't a priority market for Uber anymore
The new Uber, post the exit of Travis Kalanick believes the Indian market isn't ready