It is now clear that TOI has a vested interest in campaigning against tourist Taxi owners and drivers. They have invested 150 crores in Uber. The corporates are at play when they pretend that they want a clean up of taxi operations.
Uber Technologies Inc. said the publisher of India’s most-read English newspaper has taken a small stake in the ride-hailing application company as part of a strategic partnership to support its expansion.
Uber counts India as its biggest market outside the U.S. and the fastest growing globally. Baidu Inc., China’s largest Internet search engine, in December agreed to invest in Uber and said the company will connect its map and mobile-search features with the ride-hailing service.
Uber’s service is available in 11 Indian cities and offers three types of cars, including hatchbacks for as little as 7 rupees (11 cents) a kilometer.
The investment made by Times Internet is worth about 1.5 billion rupees ($24 million), the Indian company said in an e-mailed reply to a question. The Economic Times newspaper, also published by Bennett, Coleman, had first reported the value of the deal citing people familiar with the transaction.
“We are working on smart promotions and integrations to build awareness and excitement around Uber, which you’ll see in the coming months,” Satyan Gajwani, chief executive officer of Times Internet, said in a separate e-mailed response to questions. “We will help Uber with market insights, product localizations, and other India specific requirements.”
Uber’s safety record was called into question in December after a rider said she was raped by an Uber driver in New Delhi. The driver was arrested and is on trial.
Following the rape, the government of Delhi banned Uber from operating in the Indian capital. In January, Uber said it had applied to be regulated under a New Delhi taxi system and will hire drivers who recently passed police background checks, as well as conduct independent background checks.