Uber Reaches ‘Strategic Partnership’ With Times Internet for India Expansion

Mar 23, 2015 10:36 AM EDT | Matt Mercuro

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Uber has reached a marketing and distribution deal with India's Times Internet in an attempt to expand operations in its largest market outside the United States.

The online ride-hailing company called the deal a "strategic partnership" on Monday, centered on a commercial marketing arrangement.

"The deal is centered around a commercial marketing arrangement accompanied by a small investment," Uber said in a company statement on Monday to Economic Times.

An Uber spokeswoman said that Times Internet, the digital arm of the Times of India media group, would invest a little under one billion rupees ($16 million) in the company, which is worth an estimated $40 billion, according to Reuters.

Times Internet will work on advertisement campaigns to increase awareness in the growing startup company and also help Uber localize services for India.

The deal is a bit of good news for Uber at a time where the San Francisco-based company is battling regulatory ambiguity over how it will operate in India's capital city.

Uber is currently banned in Delhi after being criticized over screening of its drivers after one of them was accused of rape towards the end of December.  

"India is one of our fastest growing markets where we are investing heavily in continued growth," Uber's chief executive Travis Kalanick said in the statement to Reuters.

Uber has resumed operations in the city after applying for a radio taxi license in January. Its application is currently still under review at press time.

Eleven different cities can access Uber's services in India, including New Delhi.

Last week, we reported that Uber was banned in a German court for running services while using unlicensed drivers.

Uber is valued at around $40 billion currently in its latest fundraising.

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