Like literally, it’s Uber confusion Wednesday today. No news on new partnerships or successes, but problems. For one, the app pays lost wages to aggravated drivers. Then, its rival Rapido has doubled its valuation to $2.3 billion, and drivers in Nigeria made $2 million in 2023. Here’s the story.
Paying lost wages
The complainant: an Uber driver in Adelaide, Mohammad Shareed Hotak, was thrown off the platform for two months, but the reason is weird. He was complaining that their passengers assaulted them, but he was put in the wrong.
But, eventually, the driver won. In what has been named “landmark ruling,” authorities have ordered Uber to pay the driver, Hotak, two months of lost wages. He shared that he had been working for up to a whopping 60 hours weekly to support his family before the deactivation occurred.
The Fair Work Commission ruling recalled how Hotak was driving for the platform when he picked up a rider and two passengers along the party strip of Adelaide, particularly along Hindley Street.
The rider was also complaining that Hotak assaulted them, so it was like a boxing match. Well, not a boxing or sparring match, but with a baseball bat, which was the real.
Worst, Hotak was saying passengers were taking illegal medications inside the car, which was the reason his passengers attacked him.
Yet, Uber decided to deactivate his account, despite the hours he had gained working for the ridesharing app.
Rapido doubles its valuation to $2.3 billion
From stressful news to money news. Rapido has doubled its valuation to a whopping $2.3 billion, as it continues to compete with Uber, following a secondary share sale by Swiggy, a food delivery giant. This sale of share came in just weeks after this Uber competitor launched their food deliveries, threatening Swiggy as well.
Rapido, a popular ride-hailing platform in India that competes with Uber, has doubled its valuation to $2.3 billion following a secondary share sale by food delivery giant Swiggy. The share sale comes just weeks after Rapido began piloting food deliveries, edging into Swiggy’s core territory.
For context, Swiggy has offloaded its entire 12 percent stake with Rapido for around $270 million via two distinct deals, regulatory filings reveal. Dutch investment group Prosus is a common backer of Rapido and Swiggy. It is also its biggest shareholder.
Its latest share pegs the startup at over twice its around $1 billion valuation from September 2024, a figure that the CEO confirmed with the Ridesharing Forum team.
Nigeria’s drivers are rich!
You’ve been hearing stories and rants of ridesharing drivers, saying they are earning little, but take the drivers in Nigeria differently.
Ridesharing media in Africa stated that drivers in this country earned around $2 million, these are billions in Nigeria’s currency, in 2023.
Legal or illegal? Legal, definitely. Uber celebrated a decade in Nigeria with claims of boosting driver income, tourism, and nightlife spending, despite some drivers complaining about issues. Uber is big in Nigeria, statistics would show. Actually, executives are testifying.
“Uber is more than a way to move from A to B, it’s a platform that empowers people to shape their own futures,” stated Deepesh Thomas, the general manager of Uber in sub-Saharan Africa. “From drivers who value the flexibility of earning on their own terms, to women who feel safer getting home at night, to local businesses reaching more customers, Uber is proud to be part of Nigeria’s growth story.”