Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO

Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO

Serial entrepreneur Chinnakannan Sivasankaran, who has made many deals in telecom sector, has decided to foray the taxi-aggregation space with the launch of UTOO Cabs.

C Sivasankaran is a Chennai-born businessman who was the Chairman of Siva Group, Siva Industries & Holdings and Siva Ventures. He was earlier declared bankrupt by the Supreme Court of Seychelles in 2014. But later in January 2016, the government upturned the declaration  and directed all his assets around the world be freed.

Amidst a tough battle between cab aggregator players like Ola, Uber and others, UTOO is a premium taxi service in Chennai aimed at making every ride a journey.

According to a US-based market research firm, Research and Markets, India’s online taxi services market is estimated to grow at a CAGR of over 17% during 2015-2020. Also, the total taxi market size is estimated to be around $12 Bn in India.

In recent times, the Indian taxi market has seen a sudden boom. RedSeer, a consulting firm, revealed that between the two aggregators Ola and Uber, Ola has got the edge over Uber in terms of market share and more drivers on its platform. Ola has about 65% of the market share, while Uber has about 35%. The two are also backed by marquee global investors.

The development was first reported by ET.


Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.


Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO-Inc42 Media
Telecom Entrepreneur C Sivasankaran Enters The Taxi Space With Launch Of UTOO-Inc42 Media
You’re in Good company