When asked what advice he would give young entrepreneurs in mobility, delivery or quick commerce, Khosrowshahi joked, “Don’t build anything like Uber because we’ll kickyour ass.” Kamath replied: “You can buy us later.”
In May, ET reported that Rapido had captured about 40% of India’s overall ride-hailing market across vehicle categories. In four-wheelers, it has been eating into Ola’s share. As of April, Rapido held 20% of the market, compared with Ola’s 30% and Uber’s 50%. Since then, sources say Rapido has continued to gain ground against both rivals.
Rapido’s gross order value (GOV) surged to $1.25 billion in FY25, up 2.5x from $500 million a year earlier, driven by service expansion. But the growth has come at a cost, with higher cash burn pushing it further from profitability.
The company recently resumed bike-taxi operations in Bengaluru after the Karnataka High Court questioned the state government’s ban on the service. Earlier this month, it also forayed into food delivery with Ownly, now live in select Bengaluru postcodes, where it hopes to challenge Swiggy and Zomato through lower rates and fixed delivery fees.
Also Read: ETtech Explainer: Rapido’s bold challenge to Zomato, Swiggy amid sector slowdown
