Flipkart co-founder Sachin Bansal invests Rs 650 cr in Ola
Business | Feb 19, 2019, 03:43 PM IST"Ola is one of India’s most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem," Sachin said.
"Ola is one of India’s most promising consumer businesses, that is creating deep impact and lasting value for the ecosystem," Sachin said.
According to sources, the allotment of these shares to Steadview is part of the ride hailing company's plans of raising about USD 1 billion in funding.
A 23-year-old woman while going for a job interview was thrown off the Ola bike and broke her right leg after the driver hit a stationary rickshaw from behind.
The company said it plans to expand the UK operations nationwide by the end of this year.
The issue soon took the social media by storm and snowballed into a controversy as the person came under attack from twitteratis and politicians.
The strike has been called by the Maharashtra Navnirman Vahtuk Sena which has claimed that several drivers are not being able to cover costs due to falling business.
Naik alleged that the taxi-hailing companies are giving first priority to company-owned cars rather than driver-owned vehicles, causing a slump in their business.
"We have begun recruiting private hire vehicles and drivers in Sydney, Melbourne and Perth from Tuesday, with rides expected to begin in the coming weeks," a company spokesperson said.
At least 55.6 percent cab drivers drink and drive on Delhi-NCR roads, putting the lives of passengers and road users at risk.
Ola's $200 m investment in Foodpanda's India business is the largest such funds infusion in an Indian online food ordering and delivery company.
Ola is also in talks with other investors to raise an additional $1 billion with new and existing investors.
The complainant, an NGO, has sought recovery of a whopping Rs 91,000 crore from cab service providers for allegedly not adhering to rules relating to fares and not operating by metres
The funding will not only strengthen Ola in its fight against rival Uber but also take its valuation over $4 billion
A Delhi court today reserved its order on a plea seeking prosecution of app-based cab service providers, including Ola and Uber, for allegedly not adhering to rules to raise fares.
The Japanese firm has multi-billion investments in Indian firms, including Ola, Snapdeal and Elara Technologies, which owns PropTiger, Housing and Makaan.com
Airtel and Ola announced a strategic partnership on Monday, to establish an environment to address country’s budding communication and mobility requirements. Numerous digital services will be served to their customers.
While Ola has been successful in raising a sizable amount of funds, it continues to bleed on account of heavy advertising and promotional expenses and high employee cost.
In what may turn out to be a breather for people scrambling for cash for everyday needs including travel, popular Indian cab aggregator Ola Cabs on Wednesday rolled out a new service called “Ola Credit”
Japan's SoftBank Corp has announced Rs 3,700 crore write down on its investments in India including in cab-hailing firm Ola and e-commerce company Snapdeal.
Cab aggregators Uber and Ola have reportedly approached the Railways with the proposal to offer services to railway passengers.
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