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While <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> and tech-enabled logistics company <keyword id="67819" type="General" weightage="20" keywordseo="porter" source="Orion">Porter</keyword> scored zero on a scale of 1-10, <keyword id="1042120" type="General" weightage="20" keywordseo="uber" source="Orion">Uber</keyword> and <keyword id="3275685" type="General" weightage="20" keywordseo="dunzo" source="Orion">Dunzo</keyword> received only one point, according to the 'Fairwork India 2023' report, spearheaded by the Centre for IT and Public Policy (CITAPP) at International Institute of Information Technology Bangalore (IIIT-B), in association with Oxford University. The report evaluated 12 platforms offering location-based services in sectors such as domestic and personal care, logistics, food delivery and transportation, in the country. This year, the report was structured around the theme of discrimination and alienation that often come up in experiences shared by platform workers. In a year that has seen the formulation of a significant regulation based on inputs from workers called The Rajasthan Platform Based <keyword id="7771650" type="General" weightage="20" keywordseo="gig-workers" source="Orion">Gig workers</keyword> (Registration and Welfare Act, 2023, "we hope that highlighting the experiences of workers will point to the structural changes that platforms, consumers and the state alike will need to undertake if the platform economy is to offer its workers decent work," said Professors Balaji Parthasarathy and Janaki Srinivasan, principal investigators. Fairwork assessed platforms against five principles: Fair Pay, Fair Conditions, Fair Contracts, Fair Management, and Fair Representation. Each principle was broken down into two points: a first point and a second point that can only be awarded if the first point has been fulfilled. The report looked at 12 platforms, including Amazon Flex, Bigbasket, BluSmart, Dunzo, Flipkart, Ola, Porter, Swiggy, Uber, Urban Company, Zepto and Zomato. No platform scored more than six out of the maximum of 10 points, and none scored all the first points across the five principles. In its first year of participation, ride-hailing platform aggregator BluSmart scored higher than more established platforms in its sector, with 5 points out of 10. "There is room for cautious optimism that BluSmart's operational model might represent a step towards better conditions for drivers in the platform economy," the report mentioned. Bigbasket, Flipkart and Urban Company were the only platforms with a minimum wage policy to ensure that all their workers earn at least the hourly local minimum wage after factoring in work-related costs. "No platform made the second point of the Fair Pay principle, which requires platforms to provide sufficient evidence that workers earn at least the local living wage after work-related costs," the findings showed. Under the 'Fair Conditions' principle of providing adequate safety equipment and periodic safety training to their workers, Bigbasket, Swiggy, Urban Company, Zepto and Zomato were awarded the second point. Bigbasket, BluSmart, Urban Company, Zepto, and Zomato met the requirements for the second point under 'Fair Contracts' by adopting a change notification clause in their contracts, reducing asymmetries in liability, adopting a code of conduct for their subcontractors, and making the variables of pricing transparent where dynamic pricing was used. Under the 'Fair Management' principle, there was sufficient evidence only from BluSmart and Swiggy to meet the second point. "No platform could be awarded a point for 'Fair Representation' principle this year," said the report.

Ola, Porter, Uber & Dunzo worst digital platforms for gig workers: Report

Leading US asset manager <keyword id="174755" type="General" weightage="70" keywordseo="vanguard" source="Orion">Vanguard</keyword> has further slashed its holding in ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> by more than half, which takes the Bhavish Aggarwal-run company's valuation down to nearly $3.5 billion from $7.3 billion at the end of 2021. According to a TechCrunch report, citing Vanguard's filings, the investment firm has cut the worth of its shares in Ani Technologies, Ola's holding firm, by 51.6%. "The asset manager marked down the holding of its Ola shares to $25 million, from the $51.7 million purchase price years ago, the filings showed," according to the report. Vanguard had valued its Ola's shares at about $33.8 million in February this year. In May, Vanguard had slashed Ola's valuation by 35% amid global macroeconomic conditions, reducing its valuation to about $4.8 billion. Ola has raised more than $3.9 billion over the years, according to public data. IPO-bound Ola Electric has also recorded an operating loss of $136 million (roughly Rs 1,116 crore) and revenue of $335 million (roughly Rs 2,750 crore), missing its revenue goal disclosed publicly. The company reported sales of over 1,50,000 electric scooters for FY23, according to a Reuters report. In the first two months of FY23, Ola Electric claimed to have surpassed Rs 500 crore in revenue and was on track to surpass $1 billion by year's end. In January, Ola laid off 200 employees from its <keyword id="6362049" type="General" weightage="80" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>, Ola Electric and Ola Financial Services verticals as part of the "restructuring" exercise. Ola joins a growing list of Indian unicorns who have significantly lost their valuations. Invesco lowered Swiggy's valuation by almost half to $5.5 billion in earlier this year while leading US investment firm Fidelity reportedly slashed the estimated worth of its holding in homegrown conversational engagement platform Gupshup by over 20% in a month.

Ola's valuation slashed by more than half by Vanguard

<ul><li>Ola and Uber asked to showcase their algorithms related to ride cancellations and surge pricing.</li><li>Order came after CCPA received numerous complaints of unfair trading practices.</li><li>According to a survey by LocalCircles, 71% of customers continue to face ride cancellation issues.</li></ul>As thousands of commuters find themselves at the mercy of Uber and Ola drivers via ride cancellations, cancellation charges, random surge pricing and long waiting times, the Central Consumer Protection Authority (CCPA) was set to grill cab aggregators over their algorithms on Tuesday. The regulator, under its Chief Commissioner Nidhi Khare, was set to ask cab-hailing platforms to showcase their algorithms related to ride cancellations and surge pricing, along with questioning them over other issues. The CCPA has received numerous complaints of unfair trading practices, such as cab drivers forcing riders to cancel trips that result in the customers paying the cancellation charge. The authority is of the view that old customers are being charged exorbitant rates while new riders are being wooed by low fares for the same distance. Despite the Motor Vehicle Aggregator Guidelines 2020, 71 per cent customers say that ride cancellation issues by drivers continue, according to a survey by community-based social media platform LocalCircles last month. Over 45 per cent of app-based taxi consumers stated they were charged more than 1.5 times in surge pricing despite the threshold being set by the Motor Vehicle Aggregator Guidelines 2020. The extortionist practices of some drivers to undertake private trips were reported by consumers as a major concern, the report said. As thousands of Indian riders continue to suffer from paying cancellation fees sans their faults, the ride-hailing major in Australia admitted that it made false or misleading statements in cancellation warning messages and taxi fare estimates, according to the Australian Competition and Consumer Commission (ACCC). Uber now faces $26 million (Australian dollars) in penalties for adopting those illegal practices. More than two million Australian consumers were shown the misleading cancellation warning. Envisioned to lessen the travel woes, cab-hailing platforms like Uber and Ola have come a long distance in India, but riders are increasingly facing more issues. Most of the time, Uber and Ola drivers ask the riders to reveal what fare the Uber app is showing, and then decide if they want to take the ride or not depending on the amount and if it is in cash, forcing the riders to cancel the ride. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/10-things-in-tech-its-about-to-get-ugly/articleshow/91440115.cms">10 Things in Tech: It's about to get ugly</a> <a href="https://www.businessinsider.in/tech/news/meditation-app-calm-launched-a-contest-to-find-tiktoks-smoothest-voice-the-winner-will-be-paid-5000-to-narrate-a-story/articleshow/91441165.cms">Meditation app Calm launched a contest to find TikTok's 'smoothest voice' – the winner will be paid $5,000 to narrate a story</a>

Indian regulator to grill Ola and Uber over rising customer complaints

<keyword id="1042120" type="General" weightage="20" keywordseo="uber" source="Orion">Uber</keyword> on Thursday refuted a report that claimed the ride-hailing major planned to exit the Indian market and held discussions with potential buyers to sell its India business. Bloomberg reported that the US-based company explored selling the India business, but "suspended discussions after tech startup valuations cratered." In a statement shared with IANS, an Uber spokesperson said the company never explored exiting India -- not even for a minute -- and the report is "categorically false." "India is as important to Uber today as it was when we launched nine years ago. We are serving riders and drivers across more than 100 cities, hiring Indian talent aggressively, and planning for the next decade and beyond," the company spokesperson said. Uber competes with SoftBank-backed <keyword id="6354720" type="General" weightage="20" keywordseo="ola" source="Orion">Ola</keyword> in the country. Uber CEO Dara Khosrowshahi said in April that it will expand its product offerings and its team in India. "We continue to expand the product offerings for the Indian consumer. Whether it is autos, motos or high-capacity vehicles or rentals, India has always been a very big part of the Uber journey," he said during the Virtual i3 summit organised by Times Bridge. Uber aims to expand its engineering talent in India to more than 1,000 people from 700 at present, he had announced. Last month, <keyword id="2502101" type="General" weightage="20" keywordseo="uber-india" source="Orion">Uber India</keyword>'s Director of Central Operations, Nitish Bhushan, said that they are "always striving to make driving with Uber a viable and attractive option for drivers and the recent hike in fares will directly boost their earnings per trip". To remove frustration for riders and drivers alike, the company is also showing trip destinations to drivers before they decide to accept the ride. "Drivers at the Uber advisory council meeting told us they would like more flexibility around payments. We are now showing drivers the mode of payment (cash or online) before the trip starts," the company said. To make the cash or online decision irrelevant, the company has also introduced a daily pay process for drivers. With these changes, the company said that they are also reinforcing their service quality expectations with drivers, especially in areas like cancellation and ensuring AC rides. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/most-underprivileged-women-are-keen-to-start-businesses-but-lack-skills-and-financial-know-how/articleshow/92411578.cms">Most underprivileged women are keen to start businesses but lack skills and financial know-how</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-consumer-sees-growth-on-the-back-of-starbucks-tea-and-salt/articleshow/92410036.cms">Tata Consumer sees growth on the back of Starbucks, tea and salt</a>

Uber dismisses report that said it's planning to sell off its India business

<ul><li><keyword id="1042120" type="General" weightage="20" keywordseo="uber" source="Orion">Uber</keyword> has announced a slew of measures aimed at making its drivers happy.</li><li>The measures include increased fares, notifications for destination and mode of payment and more.</li><li>The company has also announced that drivers who frequently cancel the rides will be penalized.</li></ul>Uber India has announced a slew of measures aimed at making the drivers happy amid soaring fuel prices and an <a href="https://www.businessinsider.in/bi-newsletter/how-indias-soaring-inflation-puts-more-burden-on-the-common-mans-pockets/articleshow/91672701.cms">unprecedented rise</a> in the country’s inflation rate. The new measures aimed at the drivers include increased fares across the country, a better payment schedule, showing drivers the destination before they accept the ride and more. Let’s take a look at the new measures announced by Uber. <cmsannotation type="cmsannotation" annotationid="Increased fares" comment="subhead" text="Increased fares">Increased fares</cmsannotation> Petrol and diesel prices are at an all-time high and Uber drivers have been <a href="https://www.thenewsminute.com/article/cab-auto-drivers-hyderabad-go-day-long-strike-164131">protesting</a> about the rising fuel prices and asking Uber to increase the fares. While Uber had already started <a href="https://www.businessinsider.in/business/auto/news/uber-announces-a-price-hike-of-12-for-cab-rides-in-delhi/articleshow/90793725.cms">increasing the fares</a> in parts of the country, it has now announced that the fares have been increased in all regions. The fares have reportedly been increased by around 15%. While this will make the drivers happy, it will come as a jolt to customers who are already stressed with the rising prices of essentials. <cmsannotation type="cmsannotation" annotationid="Destination" comment="subhead" text="Destination">Destination</cmsannotation> One of the most common questions that a driver asks you when you book a cab or auto is the destination. In ever-increasing instances, the driver cancels the ride or asks the customer to cancel the ride if they do not like the destination. To solve this, Uber has announced that drivers will be shown the trip destination before they accept the ride. This will come as good news to both drivers and customers. It is to be noted that this will only be visible to drivers who meet a predefined trip acceptance threshold, meaning drivers who often reject trips may not be shown the destination address. <cmsannotation type="cmsannotation" annotationid="Payment mode" comment="subhead" text="Payment mode">Payment mode</cmsannotation> “Cash ya online”, is another frequent question that we hear when we book a cab. To solve this, Uber will now show the driver the mode of payment before they accept the trip. <cmsannotation type="cmsannotation" annotationid="Payment schedule" comment="subhead" text="Payment schedule">Payment schedule</cmsannotation> In another step to ease the payment process, Uber has announced a daily pay process. As part of this, earnings from Monday to Thursday will be paid on the next day and the earnings from Friday to Sunday will be paid on Monday. In addition to all this, Uber has announced that repeated complaints against a driver for cancellation or not turning on the air conditioner will lead to penalties and restrictions on using the app. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/uber-announces-a-price-hike-of-12-for-cab-rides-in-delhi/articleshow/90793725.cms">Uber announces a 12% price hike for cab rides in Delhi as petrol, diesel prices skyrocket</a> <a href="https://www.businessinsider.in/business/news/indian-government-accuses-ola-uber-and-other-aggregators-of-inflating-cab-prices-for-older-customers/articleshow/91488894.cms">Indian government accuses Ola, Uber and other aggregators of inflating cab prices for older customers</a> <a href="https://www.businessinsider.in/tech/news/how-a-group-of-youtubers-pranked-a-scam-call-centre-in-india-that-earns-18-million-per-year/articleshow/91463331.cms">Here's how a group of YouTubers pranked a scam call centre in India that makes $18 million per year</a>

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Ola, Porter, Uber & Dunzo worst digital platforms for gig workers: Report

IANS

Ola's valuation slashed by more than half by Vanguard

IANS

Indian regulator to grill Ola and Uber over rising customer complaints

IANS

Uber dismisses report that said it's planning to sell off its India business

IANS

Uber hikes fare across the country, starts showing destination and payment mode to drivers before they accept the trip

Sourabh Jain

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