Ola
Indian ride-hailing giant Ola cuts 180 jobs in profitability push
India’s Ola has let go its chief executive, Hemant Bakshi, just four months after appointing him to the post, and is cutting about 180 jobs.
Indian ride-hailing giant Ola quits UK, Australia and NZ in international pullback
Indian ride-hailing giant Ola is shutting down its operations in the UK, Australia and New Zealand, six years after expanding to international markets.
Krutrim, an AI startup founded by Ola founder Bhavish Aggarwal, said it has raised a funding round that values it at $1 billion. The startup, founded last year, is the…
India’s Ola Electric seeks to raise $661.8 million by selling new shares in an initial public offering, the six-year-old Bengaluru-headquartered startup said in draft papers filed with the country’s market regulator…
Vanguard slashes Ola valuation by over 60%; NB reduces PharmEasy’s by over 90%
The U.S. index fund pioneer Vanguard has cut the worth of its holding in the Indian ride-hailing startup Ola by nearly two-thirds since original investment, and Neuberger Berman has slashed…
Ola Electric said on Thursday that it has raised $384.43 million in a funding round, which included about $240 million in debt. The new round values the Bengaluru-headquartered electric vehicle…
Vanguard cuts Indian ride-hailing giant Ola’s valuation by 52%
The U.S. index fund pioneer Vanguard has cut the worth of its holding in the Indian ride-hailing startup Ola by more than half since original investment, according to an analysis…
Indian entrepreneur Bhavish Aggarwal, co-founder of ride-hailing firm Ola and electric vehicle startup Ola Electric, is venturing into fresh terrain as he navigates his businesses toward initial public offerings. He…
Ola, an Indian ride-hailing startup, has seen its valuation trimmed by its backer Vanguard amid a weakening global economy that has significantly impacted market capitalizations across numerous public companies. Vanguard…
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India’s gig economy drivers face bust in the country’s digital boom
Suneeta Kohli, a female Uber driver in New Delhi, had her account suddenly disabled one evening while she was en route to pick up a rider in a southern part of the capital city. “I was reaching the destination, but it took some time due to heavy traffic. The ride…
Uber and Amazon blasted for poor working conditions for gig workers in India
Research firm Fairwork India blasted Ola, Uber, Dunzo, PharmEasy and Amazon Flex in a report Tuesday, saying the firms scored zero in its assessment of whether they created fair conditions…
SoftBank-backed Ola plans to eliminate about 200 jobs across its engineering teams over the next few days, on track to shrink its workforce by over 1,200 this year, as the…
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India’s central bank cracks down on fintech startups
For nearly all fintech startups, lending has long been the end game. A notice from India’s central bank this week has thrown a wrench into the ecosystem, scrutinizing just who all can lend. The Reserve Bank of India has informed dozens of fintech startups that it is barring the practice…
Uber said on Thursday it has never explored exiting India, a key overseas market for several tech giants, dismissing a claim that it had held discussions to sell the local…
Ola said on Thursday evening it has reached an agreement to acquire Avail Finance, a financial services startup that serves the blue-collar workforce, as the ride-hailing giant looks to expand…
Airtel said on Monday it is launching a credit card, the latest attempt from the Google-backed Indian telecom operator to make inroads with financial services as it looks to expand…
Ola Electric said on Monday it has raised $200 million in a new financing round even as the Indian ride-hailing giant’s spin-off struggles to deliver its maiden electric scooter to…
Indian ride-hailing startup Ola valued at $7.3 billion in new funding
Indian ride-hailing giant Ola has raised $139 million at a valuation of about $7.3 billion, it said in a filing, ahead of its plans to file for an initial public…
Bounce’s first electric scooter features swappable battery, costs less than $500
Bangalore-based Bounce on Thursday priced its first electric scooter at as low as 36,000 Indian rupees ($480), considerably undercutting the heavily-backed rival Ola as the mobility war intensifies in the…
SoftBank has deployed $3 billion in India this year, can invest up to $10 billion in 2022
SoftBank Group chief executive Rajeev Misra said the fund has invested $3 billion in Indian companies this year and can invest $5 billion to $10 billion next year, the latest…
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Early Q3 indications show India’s startup ecosystem is going gangbusters
It appears that India’s startups utterly crushed previous venture records in Q3. What does that tell us? That India is precisely as bonkers-busy as we thought. And that it’s coming for China.
Ola Electric said on Thursday it has raised over $200 million in a new financing round at a valuation of $3 billion, up from $1 billion two years ago, as…
Ola Electric in talks to raise at over $2.75 billion valuation
Ola Electric is in advanced talks to raise between $250 million to $500 million in a new financing round as the Indian firm looks to scale its electric vehicle manufacturing…
Rapido, a bike taxi aggregator in India, said on Monday it has raised $52 million in a new financing round as the six-year-old startup looks to find space in a…
Temasek, Warburg Pincus and Bhavish Aggarwal invest $500 million in Ola
Temasek and an affiliate of Warburg Pincus are investing $500 million in Indian ride-hailing giant Ola, the Bangalore-headquartered startup said in a short statement Friday. Ola co-founder and chief executive…
Dutch court rejects Uber drivers’ ‘robo-firing’ charge but tells Ola to explain algo-deductions
Uber has had a good result against litigation in the Netherlands, where its European business is headquartered, that had alleged it uses algorithms to terminate drivers — but which the…
The coronavirus pandemic — and a handful of other factors — slowed dealmaking for startups in India this year. Compared to their record $14.5 billion fundraise last year, Indian startups…
Ola to invest $327M to set up ‘the world’s largest scooter factory’ in Tamil Nadu
Ola said on Monday that it has signed a memorandum of understanding with the government of Tamil Nadu in India to set up what it claims would be the “world’s…
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India sets rules for commissions, surge pricing for Uber and Ola
Ride-hailing firms such as Ola and Uber can only draw a fee of up to 20% on ride fares in India, New Delhi said in guidelines on Friday, a new…