Sign In
Earlier this week, reports emerged that electric cab operator BluSmart was in talks with ride-hailing giant Uber for a potential sale. The Economic Times suggested that Uber was interested in acquiring BluSmart’s EV fleet to expand its own electric offering, Uber Green.
While BluSmart swiftly issued a strong denial, Uber’s silence has been notable. In the past, the US-headquartered ride-hailing giant has been quick to dismiss similar M&A reports, including those involving SoftBank-backed Ola.
And while BluSmart may refute that it’s seeking an acquisition, what seems increasingly clear is that the company appears to be in a world of hurt. What’s less clear, though, is how BluSmart gets through this. For all the traction it has seen over the last few years, takers for a capital-intensive, loss-making, asset- and operations-heavy business are hard to come by.
In addition, access 50+ archived articles and 3 new articles every month
Sign In
Join our community of 100,000+ top executives, VCs, entrepreneurs, and brightest student minds
Blume Ventures
The CapTable brings a refreshing set of insights for us at the Blume team, highlighting stories that bring together the underlying business and founders with that of investors' journeys with these startups. It's an important perspective that very few bring to startup ecosystem enthusiasts.
Convinced that The Captable stories and insights
will give you the edge?
Convinced that The Captable stories
and insights will give you the edge?
Subscribe Now
Sign Up Now
