Wednesday, August 19, 2015

India: Tata invests $ 100 million in Uber – Challenges.fr

The Indian conglomerate Tata will invest a sum “significant” in the car rental service with driver (VTC) Uber, he said in a statement Wednesday. The investment will be made through Tata Opportunities Fund (TOF), which manages the investments of Indian conglomerate in private companies. This is the first time TOF invests in a company whose seat is not in India, are we the same source.

The amount of investment has not specified but, according to figures cited by the Indian media, it would be between 75 and 100 million. Uber offers its services in India for two years and in late July announced its intention to expand its business by investing a billion dollars in the next nine months.

Uber has experienced a slow start in this countries with the alleged rape of a young woman by one of its drivers and the subsequent removal of the group license by the government of the city of New Delhi. The company had resumed its service in January 2015 after filing a new application for a license but was refused development early June. It currently offers its services in 18 other Indian cities with 150,000 registered drivers and, she says, a growth of 40% per month.

The valuation of Uber, which is not publicly Bourse, would reach $ 50 billion after a final round table in July which would have earned him about one billion dollars, according to the Wall Street Journal which stated that among investors included the Microsoft IT group and the armed wing of the Indian media group Bennett Coleman & amp; Co.

(With AFP)

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