Uber CEO says Rapido, not Ola, is its top rival in India

Uber CEO Dara Khosrowshahi (Courtesy: Reuters file photo)

Uber CEO Dara Khosrowshahi has named Rapido, not Ola, as the company’s biggest rival in India, signaling a shift in the country’s competitive ride-hailing landscape. In a teaser clip from Zerodha co-founder Nikhil Kamath’s podcast People by WTF, Khosrowshahi said Rapido has emerged as Uber’s “prime competition,” displacing Ola, once the market leader.

“Ola used to be our main competition, now the tougher competition in India is Rapido,” Khosrowshahi said.

Founded in 2015, Bengaluru-based Rapido began as a bike taxi aggregator but has since diversified into auto-rickshaw and cab services.

The platform claims presence in over 100 cities and recently raised fresh funding to expand aggressively, targeting smaller towns where demand for affordable mobility is surging.
According to analysts, Rapido’s sharp focus on two- and three-wheeler mobility has helped it gain significant traction among price-sensitive commuters, especially post-pandemic.
Meanwhile, Ola, operated by ANI Technologies, has seen its ride-hailing business shrink in recent years.

In FY24, ANI Technologies (Ola Consumer) narrowed its consolidated net loss sharply to Rs 328.5 crore from Rs 772.2 crore the previous year, aided by lower employee benefit expenses.
However, revenues slipped. On a standalone basis, Ola’s revenue declined to Rs 1,906 crore in FY24 from Rs 2,135 crore in FY23. The parent company’s consolidated revenue also dropped slightly to Rs 2,203 crore from Rs 2,277 crore.

Much of Ola’s attention has shifted towards its EV arm, Ola Electric, which went public in 2024 and continues to draw heavy investment into its scooter lineup and battery Gigafactory.
With Ola leaning into manufacturing, Khosrowshahi’s comments highlight how Rapido has seized the opening in India’s $13-billion ride-hailing market, emerging as Uber’s fiercest competitor.