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Mahindra Group Chairman Anand Mahindra met with Uber CEO Dara Khosrowshahi during his visit to India. They had first met at Davos during with Mahindra had doubts about Khosrowshahi's tenure and Uber's longevity. However, Khosrowshahi transformed Uber, leading to significant growth and market capitalization. Mahindra praised Khosrowshahi's leadership.
Investors cheered the plans, with shares rising 12%, on the same day that thousands of drivers for Uber, rival Lyft and food delivery app DoorDash planned a one-day strike across the United States for fair pay. The company posted free cash flow of $3.4 billion in 2023, up from $390 million a year earlier.
The man retired six years ago and started working part-time at the ride-hailing platform to earn extra income.
Mahendra-Rajah will succeed Nelson Chai, who announced earlier this year that he would be stepping down from his role in January 2024.
Uber completes 10 years in India, operates in over 125 cities, helped drivers earn over ₹50,000 crores, introduced cash payments and regional language support, and has revolutionized travel in India.