New Delhi, July 13 -- Before the world realised the enormity of Covid-19 repercussions, ride-hailing companies Ola and Uber just appeared set for a long drive of fast-paced growth.
After covering most major Indian cities and towns, Ola started expanding its services internationally, including in key global markets like London and Sydney. Uber too appeared to have found its mojo back, especially with its food delivery services, Uber Eats, registering healthy growth in several markets.
The pandemic, however, has forced both these companies to put a sudden break on their plans. With ride-hailing almost coming to a stop, Ola's revenue in April and May declined by almost 95 per cent. Uber too took a major revenue hit as the rides business had ...