Ola CEO Bhavish Agarwal in a Twitter statement quashed rumours of a tie up between Uber. Agarwal called the rumours rubbish with Uber saying the reports as inaccurate.
The ride-hailing companies were believed to be in talks to merge. The news spread across after Ola’s CEO’s recent visit to San Francisco and a meeting with the senior Uber executives. Responding to the news Aggarwal tweeted, “We’re very profitable and growing well. If some other companies want to exit their business from India they are welcome too! We will never merge.”
Ola and Uber have been competing in the Indian market for a long time, and have ferociously competed against each other, both being on top and spending billions of dollars on driver incentives, passenger discounts, and different schemes to drag in more customers.