Times Internet, the digital arm of the Times of India Group, and Uber have entered into a strategic partnership to support Uber’s expansion in India.
The deal is centered around a commercial marketing arrangement accompanied by a small investment.
India is the second largest and fastest growing market for Uber globally and Uber is investing significant resources into this market’s continued growth.
The deal is rumored to be around Rs. 150 crores. “Uber will be able to leverage the reach of assets owned by the Times Group, across print, television as well as 150 million monthly active users on digital” [as reported by ET].
In many ways, this is quite similar to BCCL investments.
The partnership with Times Internet is inline with Uber’s strategy of creating local partnerships in key markets. Similar global partnerships include Baidu in China, AmericaMovil in LatAm and American Express in the US. These partners bring a deep understanding of local markets and consumer behavior and help increase the marketing and distribution of Uber’s services.
Uber is also exploring a partnership with Zomato.