Uber reported a disappointing Q2 2019 results earlier this month. While the company management didn't highlight competitive pressures as a driving factor for the quarter, publicly available data suggests otherwise: competition is indeed heating up again in many of Uber's growth markets like Latin America and Asia Pacific. More concerningly, as we highlighted in May, the source of competition is Uber's regional rivals that are large, well funded and were previously perceived to have a sort of an "alliance" with Uber. The global ride sharing industry is becoming a battle amongst giants that Softbank created.

Ola, the leading ride-sharing app in India and Uber's chief competitor in the country, began expanding into other markets in 2018. While its progress has been somewhat slow, limiting its operations to Australia, New Zealand and the UK, the slow approach may be working well