Uber CEO Calls Rapido A 'Bigger Rival' Than Ola In Nikhil Kamath's Podcast

The competitive landscape of India’s ride-hailing market is shifting, and Uber CEO Dara Khosrowshahi has made it clear who he sees as the bigger challenger. 

Speaking on Zerodha co-founder Nikhil Kamath’s podcast People by WTF, Khosrowshahi acknowledged that Ola is no longer Uber’s main rival in India—Rapido is.

“Ola used to be our main competition. Now, the tougher competition in India is Rapido,” he said, in a candid remark that underscores the rise of the Bengaluru-based mobility startup.

The comment comes at a time when Rapido has been aggressively scaling its operations. Once known primarily for bike-taxis, the Bengaluru-based firm has diversified into auto-rickshaw and cab services, operating in more than 100 cities and targeting over 500 by the end of this year. 

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Its gross order value has jumped from $500 million in FY24 to $1.25 billion in FY25, signaling rapid growth and a growing appeal among commuters.

Khosrowshahi praised Rapido’s business approach, especially its subscription-led model for drivers. “I think Rapido built a really simple model… you pay a certain amount, and for the rest of the day, you operate on what’s essentially your commission… the driver pay is higher,” he explained. The structure, he suggested, offers a direct incentive for drivers and challenges Uber’s traditional per-ride commission system.

But the Uber chief also highlighted the roadblocks ahead for Rapido, particularly profitability. “Rapido is not making money. So the real test of the business isn’t how fast you can grow if you’re spending, it’s actually how fast you can grow while you’re profitable. And I think Rapido is a long way away from that.”

Industry numbers reflect the shifting dynamics. Data from Equentis shows Uber leading the cab-hailing space with about 50% market share, while Ola has slipped to 34% and Rapido holds around 14%. Ola, meanwhile, has been diversifying into electric vehicles and new business verticals, creating space for Rapido to grab share in the urban mobility market.