Tata Neu denies reports of deal talk with Uber
A story by The Economic Times earlier today said the two were exploring a strategic partnership to list Uber on Tata Neu's platform to drive traffic and engagement on the app.
, which oversees , on Thursday denied that it was exploring a strategic partnership with Technologies, saying the rumours were speculative. At the same time, the ride-hailing giant declined to comment on the matter.
The discussions between Tata Group and Uber for a partnership to boost traffic and engagement on the latter's digital platform were reported by The Economic Times earlier today.
The report, citing sources, said the deal could see Uber's services being listed as a central app within the Tata Neu ecosystem.
It appears that Tata Neu, despite overcoming initial challenges and gaining traction after a glitchy start in 2022, is currently facing difficulties in sustaining growth and engagement. The ET report, citing insiders, suggests that the platform has been struggling to demonstrate significant growth or engagement recently, and bringing Uber in could be part of its strategy to boost its numbers.
YourStory's sister publication, The Captable, citing people in the know, reported in June last year that the company was looking to add mobility and embedded finance services to Tata Neu.
Initial discussions around the deal reportedly took place at the Davos conference earlier this year, when Uber CEO Dara Khosrowshahi and Tata Sons Chairman N Chandrasekaran met. Further talks will ostensibly happen during Khosrowshahi's upcoming visit to India, according to the ET story.
The nature and specifics of the deal remain undisclosed at this point.
Edited by Megha Reddy